US500 - Intraday - We look to Buy at 3570 (stop at 3540)
Prices spiked higher and stalled at resistance in early trade.
Despite a brief pull-back lower, buying pressure resumed and the move higher continued into the close.
Levels close to the 50% pullback level of 3570 found buyers
Dips continue to attract buyers.
Further upside is expected although we prefer to set longs at our bespoke support levels at 3570, resulting in improved risk/reward.
The trend of higher lows is located at 3512.
Our profit targets will be 3650 and 3690
Resistance: 3590 / 3690 / 3820
Support: 3500 / 3445 / 3400
Prices spiked higher and stalled at resistance in early trade.
Despite a brief pull-back lower, buying pressure resumed and the move higher continued into the close.
Levels close to the 50% pullback level of 3570 found buyers
Dips continue to attract buyers.
Further upside is expected although we prefer to set longs at our bespoke support levels at 3570, resulting in improved risk/reward.
The trend of higher lows is located at 3512.
Our profit targets will be 3650 and 3690
Resistance: 3590 / 3690 / 3820
Support: 3500 / 3445 / 3400
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Closed at breakeven
