www.varchev.com

SPX It is possible that the downward impulse is over

Our expectations: D1 Mid-term trend and adjustment to strong support.

Comment: The price corrected to support: 38.2% Fibonacci, up to the horizontal daily level and diagonal support, which is the third trend point.

The price closes above these levels, the long queue of the last bar indicates bullish predominance.

The index reaches from top to bottom 200 Linear Weighted MA, failing to break through.

The Williams Percent Range comes out of the -80% zone, which is a strong signal for promotion.

We will position the entrance upon return of the price to 50% of today’s strong bullish bar, which allows us to move SL further.

Alternative Scenarios: Breakthrough, test, and repulsion will result in numerous short positions.

SL: 2680.50



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