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SPX touched the 200 EMA on 4h and got rejected. Time to go up!

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SPX had a solid retracement today and while the situation may seem bearish on smaller time frames, if we switch to the 4h time frame we can clearly see that technical analysis suggests we are still in a bullish trend. A rejection happened at the support level of 200 EMA. Last time SPX broke the 200 EMA support level was in February 2020, just before the first covid lockdowns happened.

As long as SPX holds the support level, we're going up from here!

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Nota
Our patience is being tested. We can see a candlestick wick touched under the support level but it got rejected once again. As long as a candle doesn't close under it, we're good! Everything looking good so far.
Nota
We started today with a gap up, just as expected.
Ganbu
Moving AveragesSPX (S&P 500 Index)S&P 500 (SPX500)SPDR S&P 500 ETF (SPY) spy500spylongSupport and ResistanceTrend Analysis

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Moving AveragesSPX (S&P 500 Index)S&P 500 (SPX500)SPDR S&P 500 ETF (SPY) spy500spylongSupport and ResistanceTrend Analysis
Ganbu

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.