SPX to continue in the upward move?
SPX500USD - 24h expiry
Continued upward momentum from 5544 resulted in the pair posting net daily gains yesterday.
5 positive daily performances in succession.
The 261.8% Fibonacci extension is located at 5728 from 5094 to 5336.
The previous swing high is located at 5680.
Further upside is expected although we prefer to set longs at our bespoke support levels at 5566, resulting in improved risk/reward.
We look to Buy at 5566 (stop at 5526)
Our profit targets will be 5680 and 5728
Resistance: 5636 / 5680 / 5728
Support: 5566 / 5470 / 5440
Risk Disclaimer
The trade ideas beyond this page are for informational purposes only and do not constitute investment advice or a solicitation to trade. This information is provided by Signal Centre, a third-party unaffiliated with OANDA, and is intended for general circulation only. OANDA does not guarantee the accuracy of this information and assumes no responsibilities for the information provided by the third party. The information does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit.
You accept that you assume all risks in independently viewing the contents and selecting a chosen strategy.
Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, Oanda Asia Pacific Pte Ltd (“OAP“) accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore customers should contact OAP at 6579 8289 for matters arising from, or in connection with, the information/research distributed.
Continued upward momentum from 5544 resulted in the pair posting net daily gains yesterday.
5 positive daily performances in succession.
The 261.8% Fibonacci extension is located at 5728 from 5094 to 5336.
The previous swing high is located at 5680.
Further upside is expected although we prefer to set longs at our bespoke support levels at 5566, resulting in improved risk/reward.
We look to Buy at 5566 (stop at 5526)
Our profit targets will be 5680 and 5728
Resistance: 5636 / 5680 / 5728
Support: 5566 / 5470 / 5440
Risk Disclaimer
The trade ideas beyond this page are for informational purposes only and do not constitute investment advice or a solicitation to trade. This information is provided by Signal Centre, a third-party unaffiliated with OANDA, and is intended for general circulation only. OANDA does not guarantee the accuracy of this information and assumes no responsibilities for the information provided by the third party. The information does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit.
You accept that you assume all risks in independently viewing the contents and selecting a chosen strategy.
Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, Oanda Asia Pacific Pte Ltd (“OAP“) accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore customers should contact OAP at 6579 8289 for matters arising from, or in connection with, the information/research distributed.
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.