• As we expected, the 21 ema is working as a resistance for the index, and it couldn’t break it yesterday. The link to my previous analysis is below this post, as usual;
• In the 1h chart, it seems the index is trapped inside an Ascending Channel. If a downwards breakout occur, I see it at 3,744, the next support level in the daily chart;
• A bullish reversal would only occur if the SPX breaks the Ascending Channel (1h) upwards, along with the 21 ema (D). So far, there’s no evidence pointing to that direction;
• Either way, let’s pay attention to its main support/resistance levels for now. I’ll keep you updated on this.
Remember to follow me to keep in touch with my daily analyses!
• In the 1h chart, it seems the index is trapped inside an Ascending Channel. If a downwards breakout occur, I see it at 3,744, the next support level in the daily chart;
• A bullish reversal would only occur if the SPX breaks the Ascending Channel (1h) upwards, along with the 21 ema (D). So far, there’s no evidence pointing to that direction;
• Either way, let’s pay attention to its main support/resistance levels for now. I’ll keep you updated on this.
Remember to follow me to keep in touch with my daily analyses!
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