It’s nice to see the bulls gaining the upper hand here, after the frustrating candle we had yesterday. But, if we look at the 60 minutes timeframe chart, we can see more clearly why SPX did this.
We are at a rectangle region, it could be an accumulation or distribution, but the next move should be bigger.
Now, what we see is that SPX could trigger a pivot (purple lines), and its bottom coincides with the 21 ema region. That could be what SPX needs to breakout the 2858 region at the daily timeframe, and finally seek the 3136 (green line).
Let’s hope for the best. Follow me for more analysis.
Thank you.
We are at a rectangle region, it could be an accumulation or distribution, but the next move should be bigger.
Now, what we see is that SPX could trigger a pivot (purple lines), and its bottom coincides with the 21 ema region. That could be what SPX needs to breakout the 2858 region at the daily timeframe, and finally seek the 3136 (green line).
Let’s hope for the best. Follow me for more analysis.
Thank you.
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