hi traders,
SPX is correcting and many traders becoming super bearish here.
Don't panic here!
Let's make a plan!
We expect SPX to retest high from January 2022.
4800 could be a great entry for a long position. It's a Golden Pocket Fibonacci therefore some buying pressure may be expected. Retesting this level would be very bullish as it's previous resistance so now it's time to retest it and confirm it as support. From there, more upside is likely.
The next target is around 5900.
Time will tell but feel free to leave a comment and share your opinion !
SPX is correcting and many traders becoming super bearish here.
Don't panic here!
Let's make a plan!
We expect SPX to retest high from January 2022.
4800 could be a great entry for a long position. It's a Golden Pocket Fibonacci therefore some buying pressure may be expected. Retesting this level would be very bullish as it's previous resistance so now it's time to retest it and confirm it as support. From there, more upside is likely.
The next target is around 5900.
Time will tell but feel free to leave a comment and share your opinion !
Comment:
SPX bulls very strong. We didn't even see the support retest and the price made new ATH. Target 5900!
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