With the current uncertainty regarding the global economy and fears of recession, 
SP500 has already dropped approx. 20% in the last few weeks.
However, currently price has retraced to the long term support trend line which perfectly aligns with the 2020 top, turning it into an attractive S&R level where price could find support.
Even if price does not find support here, current market price is still a very good accumulation area for long term buyers and investors!
SP500 has already dropped approx. 20% in the last few weeks. However, currently price has retraced to the long term support trend line which perfectly aligns with the 2020 top, turning it into an attractive S&R level where price could find support.
Even if price does not find support here, current market price is still a very good accumulation area for long term buyers and investors!
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.