S&P500 approaches Daily 200 SMA
On our previous post, we mentioned that a breakout of the 3375 region can signal a continuation of the bullish trend.
Price indeed broke through and closed the week with a long awaited gain. The next target of reference is the 200 Simple Moving Averange (SMA) on the daily time frame followed by the descending trend line.
We are likely to see a decrease in momentum which can potentially lead to a decline in price. As most major economies such as the EU being sure that they are entering a recession, do you think that the US would be able to avoid it?
Price indeed broke through and closed the week with a long awaited gain. The next target of reference is the 200 Simple Moving Averange (SMA) on the daily time frame followed by the descending trend line.
We are likely to see a decrease in momentum which can potentially lead to a decline in price. As most major economies such as the EU being sure that they are entering a recession, do you think that the US would be able to avoid it?
