Sage Investment Club

Type: Bearish DropKey Levels:Resistance:4049.00Pivot:3914.00Support:3757.50Preferred Case:Looking at the H4 chart, my overall bias for SPX is bearish due to the current price crossing below the Ichimoku cloud , indicating a bearish market. If this bearish momentum continues, expect price to continue heading towards the support at 3757.50, where the 161.8% Fibonacci line is.Alternative Scenario:Price could head back up to retest the pivot at 3914.00, where the previous swing low is. Fundamentals:There are no major news.

Source link

Leave a Reply

Your email address will not be published. Required fields are marked *