S&P500 | RECESSION FEARS GROW
World's Equity Market trumple as Fed continue to raise interest rate and there is no hope to cut the rate in near sight. DXY is the only winner since the second half of the 2021.
Oil price moves more downside as recession fear grow and we might have entered in recession way before.
This is the analysis of S&P500 which is the major benchmark for the performance of how stock markets are doing all over the world.
Currently the benchmark index is at key support of EMA200 level which is 36000;
a) This is the same horizontal level where price got bounced on 13th Jun 22
b) EMA 200 resides at the same level.
Let's talk about if this support doesnt hold;
a) We have series of Lower Highs forming an indication of bearish trend.
b) The RSI is in bearish territory where sell on strength should be adopted.
c) The Harmonics ABCD will complete at 32K which is also a good horizontal support.
Where do you see the market heading?
Oil price moves more downside as recession fear grow and we might have entered in recession way before.
This is the analysis of S&P500 which is the major benchmark for the performance of how stock markets are doing all over the world.
Currently the benchmark index is at key support of EMA200 level which is 36000;
a) This is the same horizontal level where price got bounced on 13th Jun 22
b) EMA 200 resides at the same level.
Let's talk about if this support doesnt hold;
a) We have series of Lower Highs forming an indication of bearish trend.
b) The RSI is in bearish territory where sell on strength should be adopted.
c) The Harmonics ABCD will complete at 32K which is also a good horizontal support.
Where do you see the market heading?
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