S&P500 bottomed on the 5 month Channel Up. Buy.
S&P500 hit the exact bottom of the long term Channel Up pattern and remains under the 4hour MA50.
This is an instant buy opportunity technically. The 4hour RSI double bottomed.
This price action looks very much like the previous Channel Lows of December and October.
We buy on the current market price. A crossing above the 4hour MA50 confirms it. Target 1 is 4100 (Fibonacci 0.618) and Target 2 is 4200 (Fibonacci 0.786).
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This is an instant buy opportunity technically. The 4hour RSI double bottomed.
This price action looks very much like the previous Channel Lows of December and October.
We buy on the current market price. A crossing above the 4hour MA50 confirms it. Target 1 is 4100 (Fibonacci 0.618) and Target 2 is 4200 (Fibonacci 0.786).
Follow us, like the idea and leave a comment below!!
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