Hello everyone,
SPx500 6H NEW FORECAST
There is nothing new for the index price to provide repeated closings below the barrier represented by the level of 4635.00, which increases the chances of it renewing the bearish corrective attempts for the current period, which in turn may target the level of 4540.00, reaching additional stable support near 4500.00.
Also, the presentation of the Stochastic indicator of negative momentum with its continuous fluctuation below the level of 50 supports the negative weighting for the current period, so we will remain waiting for the price to touch the negative stations mentioned previously, while the price’s success in penetrating the barrier and holding above it will open the door to resuming the main upward attack. Let us recall the positioning of additional positive targets near the 4660.00 level, reaching towards 44725.00.
The expected general trend for today: bearish with the stability of the barrier
SPx500 6H NEW FORECAST
There is nothing new for the index price to provide repeated closings below the barrier represented by the level of 4635.00, which increases the chances of it renewing the bearish corrective attempts for the current period, which in turn may target the level of 4540.00, reaching additional stable support near 4500.00.
Also, the presentation of the Stochastic indicator of negative momentum with its continuous fluctuation below the level of 50 supports the negative weighting for the current period, so we will remain waiting for the price to touch the negative stations mentioned previously, while the price’s success in penetrating the barrier and holding above it will open the door to resuming the main upward attack. Let us recall the positioning of additional positive targets near the 4660.00 level, reaching towards 44725.00.
The expected general trend for today: bearish with the stability of the barrier
