SnP500 Ascending Triangle formation
Since September 2022 S&P500 seems to be struggling to break the resistance at 4150 area where it has been rejected atleast four times since then. However, several indicators are now pointing towards a possible break through, expected soon as DXY is declining and is expected to decline further in the coming weeks.
S&P500 on the other hand seems to be forming an ascending triangle on daily chart. We will wait for the resistance to break at 4150 and hold above it, then we can take long positions with first TP1 at around 4325 and TP2 at around 4500.
S&P500 on the other hand seems to be forming an ascending triangle on daily chart. We will wait for the resistance to break at 4150 and hold above it, then we can take long positions with first TP1 at around 4325 and TP2 at around 4500.
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