SPX500 Takes 3350 Support Out
SPX500 continued its drop yesterday to print fresh lows around 3329 mark (spot). The indice has finally managed to clearly take out initial support around 3350 levels. If a lower degree impulse is complete, we should witness a sharp counter trend rally towards 3450/3500 mark from here. Also note that SPX500 has broken below its trend lone support since March 2020. The indices is looking good to be sold on rallies from here on.
Remain short, stop @ 3600, target is open.
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Trading Forex or any CFD products may not be suitable to all investors and they must evaluate their risk appetite. The above article should not be construed as a trading or investment advice as it is solely for education and information purpose only. Trading might incur a loss of capital and hence investors might be required to gain further knowledge regarding the risks involved. Leverage should be used wisely.
Remain short, stop @ 3600, target is open.
Risk Disclaimer:
Trading Forex or any CFD products may not be suitable to all investors and they must evaluate their risk appetite. The above article should not be construed as a trading or investment advice as it is solely for education and information purpose only. Trading might incur a loss of capital and hence investors might be required to gain further knowledge regarding the risks involved. Leverage should be used wisely.
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