S&P 500 - Neutral Marrket
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Hello, everyone,
After the last crush of SPX started on 21 Feb 2020, buyers tried to pull back the market on 28 Feb 2020 as we can see at 0.618 Fibonacci level, the market tried to rebound but we had a strong resistance at the 0.786 Fibonacci level on 04 Mar 2020, then the market continue its fail by crossing the main support on 12 Mar 2020.
On 23 Mar 2020, we observed a strong and solid pullback from 2190 price line with a reversal movement that crosses up the main support on 008 Apr 2020, after that the market encounter barriers to cross the 0.618 Fibonacci level again and begin to trace ranges between minor resistance lines as graphics shows.
MY POV: we consider SPX a neutral market at the moment, we will consider investment above 3000$ price line or Below 2700$ price line.
SUPPORT US TO BUILD A COMMUNITY--FOLLOW--LIKE--COMMENT.
Kind regards.
After the last crush of SPX started on 21 Feb 2020, buyers tried to pull back the market on 28 Feb 2020 as we can see at 0.618 Fibonacci level, the market tried to rebound but we had a strong resistance at the 0.786 Fibonacci level on 04 Mar 2020, then the market continue its fail by crossing the main support on 12 Mar 2020.
On 23 Mar 2020, we observed a strong and solid pullback from 2190 price line with a reversal movement that crosses up the main support on 008 Apr 2020, after that the market encounter barriers to cross the 0.618 Fibonacci level again and begin to trace ranges between minor resistance lines as graphics shows.
MY POV: we consider SPX a neutral market at the moment, we will consider investment above 3000$ price line or Below 2700$ price line.
SUPPORT US TO BUILD A COMMUNITY--FOLLOW--LIKE--COMMENT.
Kind regards.
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