SPX500USD has broken out of its ascending support line!
SPX500USD has broken out of its ascending support turned resistance line where it could potentially drop further. If it breaks past its support at 2662 (61.8% Fibonacci extension, 38.2% Fibonacci retracement, horizontal overlap support), it could fall to its next support at 2630 (100% Fibonacci extension, 50% & 61.8% Fibonacci retracement, horizontal swing low support).
RSI (89) has broken out of its corresponding ascending support line. Ichimoku cloud is also seeing bearish pressure which contributes to our bearish bias.
RSI (89) has broken out of its corresponding ascending support line. Ichimoku cloud is also seeing bearish pressure which contributes to our bearish bias.
Trade closed: target reached
SPX500 dropped perfectly to our profit target!
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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.