• 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 […]

  • SPX500 approaching resistance, potential drop!

    SPX500 is approaching our first resistance at 2822 (61.8% Fibonacci extension, 61.8% Fibonacci retracement, Horizontal swing high resistance) and a strong drop might occur pushing price down to our major support at 2622 (100%, 61.8% Fibonacci extension, Horizontal swing low support). Stochastic (89,5,3) is also approaching resistance and we might see a corresponding drop in […]

  • SPX500 testing resistance, potential reversal!

    SPX500 is testing its resistance at 2739 (76.4% Fibonacci retracement, horizontal overlap resistance) where it could potentially reverse, causing price to fall to its major support at 2679 (38.2% Fibonacci retracement, horizontal overlap support). Stochastic (55, 5, 3) is testing its resistance at 97% where a corresponding reaction could occur. Trading CFDs on margin carries […]