SPX has been trading within a Channel Up on the 1W chart since the October 03 2019 low (RSI = 68.663, MACD = 94.760, ADX = 55.372, Highs/Lows = 80.7537). At the moment the price was rejected near the Higher High trend line and since the RSI on the 1D chart in on a bearish divergence we expect the pull back leg for a Higher Low.
The 1D MA50 last time supported the pull back so we will set our Target higher: within the 3,307 Feb 4th Gap and 3,320 (inner dashed Higher Low line).
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The 1D MA50 last time supported the pull back so we will set our Target higher: within the 3,307 Feb 4th Gap and 3,320 (inner dashed Higher Low line).
** If you like our free content follow our profile (www.tradingview.com/u/InvestingScope) to get more daily ideas. **
Comments and likes are greatly appreciated.
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Over 65% accuracy on Private Signals Channel.
Over 15% return monthly on our Account Management Plan.
Account RECOVERY services.
Free Channel: t.me/investingscopeofficial