S&P500 bullish week expected
The last week saw a reversal of the previous week, with the weekly candle recovering all the previous week's losses and closing decisively above the gap resistance. From a weekly chart perspective, the following week would be bullish.
The daily chart similarly shows that the bullishness came from the last day of the week (instead of mid-week as expected). Nonetheless, the MACD crossed over bullish.
Expecting a bullish follow through for the week ahead and this must break and stay above 4120; ideally to recover above 4300, and meet the 4425 bullish trend change resistance. Would be wary and watch these resistance levels...
The daily chart similarly shows that the bullishness came from the last day of the week (instead of mid-week as expected). Nonetheless, the MACD crossed over bullish.
Expecting a bullish follow through for the week ahead and this must break and stay above 4120; ideally to recover above 4300, and meet the 4425 bullish trend change resistance. Would be wary and watch these resistance levels...
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.