For Traders

Analytical Reviews

Stock Markets

26.01.202315:58 Forex Analysis & Reviews: SPX target 4,140 as long as it trades above 3,880.

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 lines- Fibonacci extension targets

SPX is on positive grounds today and after a short-term pull back towards 3,880 where a higher low was formed, price is ready to break to new short-term higher highs. Short-term trend remains bullish as long as price is above 3,760. Our next upside target for SPX is at 4,140 where we find the 100% Fibonacci extension of the first leg up. Short-term support is at yesterday's low at 3947. Yesterday's daily candlestick has long lower tail and suggests that it would not be good for bulls for price to break below yesterday's low.

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.