#SPX up or down?
#SPX perfect dump from my 4600$ target
Perfectly came to my 4280$ price level and bounced.
Currently, on the weekly chart we can expect some bounce up to 4395$, where I highlighted a new resistance level for Bulls.
Where I would wait for bullish confirmations on LTF, to be sure that the price can go higher. Otherwise we can expect strong bear reaction that will lead the price back to 4200$ and below.
So, I highlighted 3 possible scenarios for #SPX:
1. #SPX bounces and breaks above 4395$, eg, closes with 4H, 8H, 12H, D candle above that price, in this case, new ATH will be reached.
2. #SPX comes to resistance 4395$ and rejects, in this case it can dump till 4161$ where I expect another bounce.
3. #SPX rejects from 4395$ and comes to 200 ema on W TF - 3856$ where it will be last chance for Bull to take the control in the market.
Perfectly came to my 4280$ price level and bounced.
Currently, on the weekly chart we can expect some bounce up to 4395$, where I highlighted a new resistance level for Bulls.
Where I would wait for bullish confirmations on LTF, to be sure that the price can go higher. Otherwise we can expect strong bear reaction that will lead the price back to 4200$ and below.
So, I highlighted 3 possible scenarios for #SPX:
1. #SPX bounces and breaks above 4395$, eg, closes with 4H, 8H, 12H, D candle above that price, in this case, new ATH will be reached.
2. #SPX comes to resistance 4395$ and rejects, in this case it can dump till 4161$ where I expect another bounce.
3. #SPX rejects from 4395$ and comes to 200 ema on W TF - 3856$ where it will be last chance for Bull to take the control in the market.
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