themarketzone

Testing lows again - Two buy zones

Long
FX:SPX500   S&P 500 Index
$SPX just reached 1900 again and completed a 61.8 Fib retracement when it touched 1890.
This minor support zone could be enough to push $SPX back up towards 1920 to test the top of the resistance zone.

Just in case that $SPX will decline lower to re-test 1870-1880 support zone, it will provide an even better reason to try and speculate on a bullish move as it will complete a bullish Bat pattern.

2 buy zones - 1890-1900 and 1870-1880.
Short term targets - 1910, 1920
Longer term targets (only if the price will close above confirmation level - 1920) - 1950, 1980, 2000


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