Hello everyone,
SPx500 4H NEW FORECAST
The index price did not move anything until this morning's trading, as it was confined between the additional support centered at 5265, while the stability of the resistance of the ascending channel extending towards 5335 hinders the chances of recording any of the additional gains previously suggested.
The above supports the dominance of the sideways tendency for the current period, so we wait for the price to cross one of the previously mentioned axes so that we can determine the expected direction for the upcoming trading. Breaking the resistance will open the door to reaching new historical stations that may start from 5385.00, while the price falling below the additional support and remaining below it will force it to activate the path. The bearish correction was forced to suffer many losses by first being attracted towards 5220 and 5193 respectively.
SPx500 4H NEW FORECAST
The index price did not move anything until this morning's trading, as it was confined between the additional support centered at 5265, while the stability of the resistance of the ascending channel extending towards 5335 hinders the chances of recording any of the additional gains previously suggested.
The above supports the dominance of the sideways tendency for the current period, so we wait for the price to cross one of the previously mentioned axes so that we can determine the expected direction for the upcoming trading. Breaking the resistance will open the door to reaching new historical stations that may start from 5385.00, while the price falling below the additional support and remaining below it will force it to activate the path. The bearish correction was forced to suffer many losses by first being attracted towards 5220 and 5193 respectively.
