The SPX downside is likely to be over after the index was seen invalidating the wave-4 rule of the 5-wave impulse Elliott wave structure. Furthermore, theres a bear trap as price never closes below 6% from 5,120 major support and strong bullish pressure was seen thereafter, and returning back above the uptrend with strong bullish pressure was seen as a strong upside.
Stochastic Oscillator has confirmed the oversold signal.
Target is likely to see 5,792 as the next immediate target. But we do not foresee a new high yet. We think that the correction is likely to unfold in a three wave manner.
Stochastic Oscillator has confirmed the oversold signal.
Target is likely to see 5,792 as the next immediate target. But we do not foresee a new high yet. We think that the correction is likely to unfold in a three wave manner.
Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.