www.varchev.com

SP500 has reached the last level of support, should we expect a rebound?

SP500 Daily chart hit the 200SMA

Rating:

12345
Loading...
icon mailicon facebookTwitter iconGoogle iconicon hyperlink

Just a week ago, the average of the average was an unthinkable level for a large number of investors, but today the index is testing the level again, with a strong rebound from the support zone in the last few minutes. The SP500 registers its worst week for almost seven years.

What does the second touch of the 200 periodicals show this week and is the level for long?

Looking at the details of a one-hour clock, we have a double billiard pin bar, then a strong pulse upward, which shows the determination of the bulls from the current levels. Given the strong foundation behind a large number of companies in the index and good global economic performance, the levels are good for long positions and at the moment the price gives us a good opportunity for positioning with a short stop. The RR ratio of current levels to the top will be 1:4.

Varchev Finance SP500 Long idea

SL: 2520

Alternative Scenario: If the price goes below 200 periods combined with horizontal support and stays in several consecutive bars there, the positive scenario will be spoiled and the likelihood of a subsequent collapse will increase.

Source: Bloomberg Pro Terminal

Jr Trader Petar Milanov


Subscribe to Varchev Finance's newsletter and get the most important to your email


Read more:

RECCOMEND WAS THIS POST USEFUL FOR YOU?
If you think, we can improve that section,
please comment. Your oppinion is imortant for us.
WARNING: Any news, opinions, research, data or other information contained within this website is provided as general market commentary and does not constitute investment or trading advice. Varchev Finance Ltd. expressly disclaims any liability for any lost principal or profits which may arise directly or indirectly from the use of or reliance on such information. Varchev Finance Ltd. may provide information, quotes, references and links to or from other sites and blogs and other sources of economic and market information as an educational service to its clients and prospects and does not endorse the opinions or recommendations of the sites, blogs or other sources of information.
Varchev Finance

London


25 Canada Square, Level 33, office 50, Canary Wharf London, E14 5LQ +44 20 3608 6256

Universal numbers

World Financial Markets - 0700 17 600    Varchev Exchange - 0700 115 44

Varchev Finance Ltd is registered in the FCA (FINANCIAL CONDUCT AUTHORITY) with a passport in the United Kingdom: FCA, United Kingdom - registration number: 494 045, which allows provision of financial services in the United Kingdom.

Varchev Finance Ltd strictly comply with the statutes of the European directive MiFID (Markets in Financial Instruments). targeting increased efficiency, transparency and uniformity of financial instruments.
Varchev Finance Ltd is authorized and regulated by the Financial Supervision Commission - Sofia, Bulgaria: License number RG-03-02-05 / 15.03.2006

The information on this site is not directed at residents of the United States or Belgium and is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.

Disclaimer:

Derivatives and margin trading involve a high degree risk level. You should not trade Forex and CFD unless you fully understand how it functions, what your benefits can be, what your risk is, and what you may lose. Please, note that the losses can be practically unlimited and that the initial deposit will not permanently limit the risk. You have to fully realize your financial status and make sure that trading in derivatives hides the risk of losing the entire amount invested. Invest only the amounts that you are able to lose.

chat with dealer
chat with dealer
Cookies policy