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SPX500, sign for reversal

Some technical points of view for SPX500

  • A historical high did SPX500 make in its last trading session at around 2742.50 points.
  • It is currently hit our 0.786 fibs extension from its latest upswing.
  • Any further rejections at that current trading level at 2742.50 points will lead the price action to the down side.
  • The coming support area we have detected at around 2666.xx points, what for a number 😉
  • On the upside, any further breakout the current highest trading level at 2742.50 points and SPX finds this level as its support area, then we are looking for a next up swing high to 3011.xx points in the coming time.

 

Trading idea

Give SPX a short, in case it cannot breakout its current high and makes next further lower high. On the upside, we go long with SPX500 only, if it would make a breakout and find the current high as its support zone. Take your look at the below depicted chart for more reference:

Trade well!

 

Makkaba team

 

 

 

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