SPX: Medium term long to a Higher High.
The index is trading within a 1W Channel Up (RSI = 57.360, MACD = 38.130, Highs/Lows = 5.5037) since late February. Since the May Higher High, the pattern has been respecting the Higher High/ Higher Low marks providing clear buy/ sell signals.
The price just broke above the 1D MA50 which has been the Resistance for a whole month (August) since the 2,780 Higher Low. With this strong break-out, the index should now technically test the 3,030 1W Resistance and then move on to a new Higher High within 3,065 - 3,085. We remain long on SPX.
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The price just broke above the 1D MA50 which has been the Resistance for a whole month (August) since the 2,780 Higher Low. With this strong break-out, the index should now technically test the 3,030 1W Resistance and then move on to a new Higher High within 3,065 - 3,085. We remain long on SPX.
** If you like our free content follow our profile (tradingview.com/u/InvestingScope) to get more daily ideas. **
Comments and likes are greatly appreciated.
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investingscope.com
Over 65% accuracy on Private Signals Channel.
Over 15% return monthly on our Account Management Plan.
Account RECOVERY services.
Free Channel: t.me/investingscopeofficial
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