For about three month now the S&P 500 is struggling with the 3000 level.
During this period an ascending triangle was formed, as you can see on the chart above.
Most of the times these triangles will break to the upside and when they do the price target will be a move equal to the height of the triangle. In this case around 300 points.
Of course there is also a chance the triangle will break to the downside, which will invalidate the pattern.
Also be aware of false break outs as happened the end of July.
Disclaimer:
These are just ideas of what might or might not happen and is by no means trading advice. Always trade on your own risk and do your own analysis.
During this period an ascending triangle was formed, as you can see on the chart above.
Most of the times these triangles will break to the upside and when they do the price target will be a move equal to the height of the triangle. In this case around 300 points.
Of course there is also a chance the triangle will break to the downside, which will invalidate the pattern.
Also be aware of false break outs as happened the end of July.
Disclaimer:
These are just ideas of what might or might not happen and is by no means trading advice. Always trade on your own risk and do your own analysis.