SPX: This Channel Might Change the Trend.
• SPX is inside a Descending Channel, as seen in the 1h chart;
• Despite the bearish momentum in the 1h chart, the trend is still bullish in the daily chart, as the SPX is still doing higher highs/lows and it is above the 21 ema;
• However, if it loses the 21 ema, or does a downwards breakout from this channel, then the bullish bias might reverse in the daily chart (mid-term trend);
• On the other hand, the index would have to do a clear upwards breakout from this channel in order to materialize a bullish continuation pattern;
• This bullish scenario would take us to 4,218, our next target, and an open gap from August last year;
• For now, let’s pay attention on how the index will react inside this channel.
Remember to follow me to keep in touch with my daily analyses!
• Despite the bearish momentum in the 1h chart, the trend is still bullish in the daily chart, as the SPX is still doing higher highs/lows and it is above the 21 ema;
• However, if it loses the 21 ema, or does a downwards breakout from this channel, then the bullish bias might reverse in the daily chart (mid-term trend);
• On the other hand, the index would have to do a clear upwards breakout from this channel in order to materialize a bullish continuation pattern;
• This bullish scenario would take us to 4,218, our next target, and an open gap from August last year;
• For now, let’s pay attention on how the index will react inside this channel.
Remember to follow me to keep in touch with my daily analyses!
Thông báo miễn trừ trách nhiệm
Thông tin và ấn phẩm không có nghĩa là và không cấu thành, tài chính, đầu tư, kinh doanh, hoặc các loại lời khuyên hoặc khuyến nghị khác được cung cấp hoặc xác nhận bởi TradingView. Đọc thêm trong Điều khoản sử dụng.