After testing support at the end of February, the US500 fell below this key level at the start of March, signaling the potential for a deeper correction.
In my view, this scenario is likely, and any rebound this week could present a good selling opportunity for speculators.
My target for this correction is the 5,200 support zone. A stabilization above 6,000 would invalidate this outlook.
Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analyses and educational articles.
In my view, this scenario is likely, and any rebound this week could present a good selling opportunity for speculators.
My target for this correction is the 5,200 support zone. A stabilization above 6,000 would invalidate this outlook.
Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analyses and educational articles.
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📈 Forex & XAU/USD Channel:
t.me/intradaytradingsignals
💎 Crypto Channel:
t.me/FanCryptocurrency
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.