S&P 500 IndexLong
SPX Clean trading
Looks like a potential LONG.
I would like SPX to open with a little downfall and tap 3202.80 before heading up.
This week since SPX has been in a downtrend, GOLD has been on the rise.
I believe if SPX is in a Bull trend this week GOLD should be on a downtrend.
WHY LONG:
- 3203.80 is a strong area support zone, where market bounce off of many times.
- Coronavirus has been not too bad and the news hasn't been ugly lately. (I do not rely on news)
-3289.00 is the area where market wanted to reject but if we take that previous high we will be looking for a continuation of a strong uptrend.
I would like SPX to open with a little downfall and tap 3202.80 before heading up.
This week since SPX has been in a downtrend, GOLD has been on the rise.
I believe if SPX is in a Bull trend this week GOLD should be on a downtrend.
WHY LONG:
- 3203.80 is a strong area support zone, where market bounce off of many times.
- Coronavirus has been not too bad and the news hasn't been ugly lately. (I do not rely on news)
-3289.00 is the area where market wanted to reject but if we take that previous high we will be looking for a continuation of a strong uptrend.
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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.