For Traders

Analytical Reviews

Stock Markets

07.05.202117:18 Forex Analysis & Reviews: Bullish breakout in SPX, but longer-term picture remains vulnerable

Tieto informácie poskytujeme retailovým a profesionálnym klientom ako súčasť marketingovej komunikácie. Neobsahujú investičné poradenstvo, investičné odporúčania, ponuku ani výzvu na vykonanie transakcie alebo použitie stratégie na finančných nástrojoch a ani by sa tak nemalo s nimi zaobchádzať. Minulá výkonnosť nie je zárukou ani predikciou budúceho výkonu. Spoločnosť Instant Trading EU Ltd. neručí a nepreberá žiadnu zodpovednosť za správnosť a úplnosť poskytovaných informácií ani za stratu, ktorá by vyplynula z akejkoľvek investície založenej na analýze, predpovedi alebo iných informáciách poskytnutých zamestnancom spoločnosti alebo iným spôsobom. Celé vylúčenie zodpovednosti nájdete tu.

In our last analysis on SPX we mentioned that a pull back towards 4075 was justified as long as price was trading below 4180. Breaking above 4180 would be a bullish sign that would bring price to 4200. The index broke resistance late yesterday and is now trading at 4234 having broken out of the sideways trading range it was in.

Green lines - trading range

Red downward sloping line -resistance (broken)

Red lines - Fibonacci extensions

SPX is approaching our next target of 4244. Trend is bullish as long as price is above 4200. What was once resistance is now support. However chasing the bullish trend here is not advised as price has formed a long-term megaphone pattern that if confirmed, we could see a major reversal in prices.

Blue lines -bearish divergence

Red line -lower megaphone boundary

SPX is making new all time highs. The RSI is not following. The RSI is providing major warning bearish divergence signs. The almost vertical rise in prices after the epidemic plunge, is impressive and very worrying. The megaphone pattern is a bearish pattern and traders need to be cautious if price turns below 4200-4120.

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.