• The index is reacting above our support level, as expected, and it seems it wants to bounce;
• A reaction was already expected, since the SPX just filled our gap;
• This is a bottom sign, but the main trend is still bearish. The SPX must break its 21 ema again, in order to resume the bullish sentiment;
• In addition, the 3,911 is another key resistance – the 3,911 worked as a support/resistance multiple times in the last semester of 2022;
• On the other hand, in order for it to resume the bear trend to the 3,744 (next support, red line), it has to lose the 3,818;
• Right now, the index is a no man’s land, but we’ll see some definition soon.
Remember to follow me to keep in touch with my daily analyses!
• A reaction was already expected, since the SPX just filled our gap;
• This is a bottom sign, but the main trend is still bearish. The SPX must break its 21 ema again, in order to resume the bullish sentiment;
• In addition, the 3,911 is another key resistance – the 3,911 worked as a support/resistance multiple times in the last semester of 2022;
• On the other hand, in order for it to resume the bear trend to the 3,744 (next support, red line), it has to lose the 3,818;
• Right now, the index is a no man’s land, but we’ll see some definition soon.
Remember to follow me to keep in touch with my daily analyses!
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