SPX: Finally filled our GAP! What's next?
• Since our last analysis, the SPX did a great reaction, just above the key support we mentioned yesterday at 3,937 – a Double Bottom chart pattern;
• By the moment it broke our key resistance area made by the 21 ema (1h chart) + 3,980, it exploded – the link to my previous analysis is below this post, as always;
• Now, the index filled its last gap at 4,083, which I was aiming at since the 3,900. We were already expecting this movement, since the mid-term trend in the daily chart was bullish since the beginning, and we had no clear bearish structure at any moment – just pullback signs;
• Now that the index exploded, we could see some correction, and in this case, there are many support levels to work with: We have the retracements, the previous top at 4,028 and the 21 ema in the 1h chart;
• Any bullish structure around any of these support levels might indicate that the bull trend will persist a little bit longer. I’ll keep you updated on this.
Remember to follow me to keep in touch with my daily analyses!
• By the moment it broke our key resistance area made by the 21 ema (1h chart) + 3,980, it exploded – the link to my previous analysis is below this post, as always;
• Now, the index filled its last gap at 4,083, which I was aiming at since the 3,900. We were already expecting this movement, since the mid-term trend in the daily chart was bullish since the beginning, and we had no clear bearish structure at any moment – just pullback signs;
• Now that the index exploded, we could see some correction, and in this case, there are many support levels to work with: We have the retracements, the previous top at 4,028 and the 21 ema in the 1h chart;
• Any bullish structure around any of these support levels might indicate that the bull trend will persist a little bit longer. I’ll keep you updated on this.
Remember to follow me to keep in touch with my daily analyses!
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