For Traders

Analytical Reviews

Stock Markets

06.12.202216:40 Forex Analysis & Reviews: SPX short-term technical analysis for December 6th, 2022.

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

Blue line- resistance

Green line- support

SPX is trading around the 4,000 price level. Recent price action was bearish as price got rejected at the major trend line resistance coming from 4,817. Short-term support remains respected as price has not broken the higher highs and higher lows sequence. SPX recently got rejected at the 4,100 resistance area and is now testing the upward sloping support trend line. It would be a sign of weakness if price were to break below the trend line. The most recent higher low at 3,937 if broken will provide a reversal signal. If bulls manage to defend this area, then we could see SPX spike higher towards 4,200.

Back to the list

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.