The S&P500 is trading inside a Channel Up for more than 6 months.
The price is now between the 0.5 - 0.618 Fibonacci levels, a zone that was the last consolidation during the previous two rallies to the top of the Channel Up.
The Target Zone is between 4280 - 4350, with 4280 being the 1.236 Fibonacci level where the previous Higher High was formed.
The RSI is still on a Rising Support as both previous rallies.
Previous chart:
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The price is now between the 0.5 - 0.618 Fibonacci levels, a zone that was the last consolidation during the previous two rallies to the top of the Channel Up.
The Target Zone is between 4280 - 4350, with 4280 being the 1.236 Fibonacci level where the previous Higher High was formed.
The RSI is still on a Rising Support as both previous rallies.
Previous chart:
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