Hello everyone this is my Sp500 idea on monthly time frame ...
We have a breakout which is monthly candle close above red line same time in the RSI indicator price has breached a downtrend line (green line in RSI indicator )
So far all signs shows bullish market we already had a breakout pre-covid19 but price crashed however supports held and now price had a second breakout .. which confirm the bull case
as long as price is above red line ( no monthly candle close below ) we are in a bull market ..
as for our target I will post a chart below check it out we could do a same pattern of 2007 crash ..
We have a breakout which is monthly candle close above red line same time in the RSI indicator price has breached a downtrend line (green line in RSI indicator )
So far all signs shows bullish market we already had a breakout pre-covid19 but price crashed however supports held and now price had a second breakout .. which confirm the bull case
as long as price is above red line ( no monthly candle close below ) we are in a bull market ..
as for our target I will post a chart below check it out we could do a same pattern of 2007 crash ..