US500 FROM SUPPORT TO RESISTANCE?
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Look how the long term trend line support becomes resistance area, a classic technical analysis.
I would not say we can not go up from here, that would take a big shift in sentiment and from looking to the weekly RSI you can see how weak and gloomy is this market, with all the FED efforts and governments around the world still not enough to calm down financial markets
So if the market will continue to drop where is the next level?
We can only guess at this moment using support areas and FIB numbers, I see 2000 is a possible area.
Disclaimer: This information is not a recommendation to buy or sell. It is to be used for educational purposes only**
Look how the long term trend line support becomes resistance area, a classic technical analysis.
I would not say we can not go up from here, that would take a big shift in sentiment and from looking to the weekly RSI you can see how weak and gloomy is this market, with all the FED efforts and governments around the world still not enough to calm down financial markets
So if the market will continue to drop where is the next level?
We can only guess at this moment using support areas and FIB numbers, I see 2000 is a possible area.
Disclaimer: This information is not a recommendation to buy or sell. It is to be used for educational purposes only**
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