💲 S&P500 Bounces Off Resistance Zone 💲

Feb 9, 2023

💲 S&P500 Bounces Off Resistance Zone

💲 Nearest strong support zone: around the fibo level of 0.382 of the downward wave.

💲 Nearest strong resistance zone: around fibo level 0.5 of the downward wave.

💲 Technical environment:

📊 Moving averages: Uptrend

📊 MACD: Downtrend

📊 RSI: 50/50

💲 Price action: the S&P500 again attacked a resistance zone which once again proved to be a very strong zone hard to break through. It looks like my cumulative scenario I wrote about in previous posts is starting to materialize. And it will take us some time before the next wave of increases begins. For now, I expect the accumulation to continue within the prevailing upward channel.

📉 The scenario I'm playing out is the continuation of accumulation before the next upward wave. I don't exclude the possibility of changing the scenario if the market situation changes abruptly. I'm aware of the possibility of a correction at any time, this should be taken into account, If the outlook changes I will publish a post with an update, so I encourage you to actively follow the profile and read the description carefully.

🚀 If you appreciate my work and effort in this post, I encourage you to leave a like and follow on my profile. 🚀

Feb 10, 2023

Note