SPX500 approaching support, potential bounce!
SPX500 is approaching our first support at 2600 (100% Fibonacci extension , Horizontal swing low support, 76.4% fibonacci retracement ) and a strong bounce might occur above this level pushing price up to our major resistance at 2808 (61.8% Fibonacci retracement , Horizontal overlap resistance).
Stochastic (89,5,3) is also approaching support and we might see a corresponding bounce in price should it react off this level.
Stochastic (89,5,3) is also approaching support and we might see a corresponding bounce in price should it react off this level.
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