SPX500USD Will Go Up! Long!

Here is our detailed technical review for SPX500USD.

Time Frame: 1D
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish

The market is testing a major horizontal structure 5,430.7.

Taking into consideration the structure & trend analysis, I believe that the market will reach 5,568.2 level soon.

P.S
We determine oversold/overbought condition with RSI indicator.
When it drops below 30 - the market is considered to be oversold.
When it bounces above 70 - the market is considered to be overbought.

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Komentar:

I am confident in this trade so I will keep it open!