• The SPX hit its key resistance at 3,900 and it failed in breaking it;
• This is a sign of weakness, and by confirming a top sign under its resistance, a pullback is very likely to occur;
• The next support area on SPX is around 3,780 – 3,760, around the 21 ema and the previous top level seen on Oct 18 (red line);
• For now, let’s keep these support and resistance levels in mind. The index must react as soon as possible in order to avoid a correction, and if it breaks the resistance, the next target would be the 4,100 area.
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• This is a sign of weakness, and by confirming a top sign under its resistance, a pullback is very likely to occur;
• The next support area on SPX is around 3,780 – 3,760, around the 21 ema and the previous top level seen on Oct 18 (red line);
• For now, let’s keep these support and resistance levels in mind. The index must react as soon as possible in order to avoid a correction, and if it breaks the resistance, the next target would be the 4,100 area.
Remember to follow me to keep in touch with my analyses!
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.