empty
 
 
ar
الدعم
فتح الحساب الفوري
منصة التداول
إيداع/ سحب

16.01.202314:45 Forex Analysis & Reviews: SPX bulls maintain control of short-term trend, eyeing 4,060 level.

Exchange Rates 16.01.2023 analysis

Violet lines- Fibonacci retracement levels

yellow rectangle- support

SPX remains in a short-term up trend making higher highs and higher lows. Price has now retraced 61.8% of the decline from 4,136 top at December 13th. The 61.8% Fibonacci retracement is key short-term resistance level. Price recently made two pull backs towards 3,940 and both times price was respected and trend supported. This is now key short-term support. Bulls do not want to see price break below this level. On the other hand, short-term upside target is the next Fibonacci retracement level at 4,050-60. At the 61.8% retracement level we usually see trend reversals. In this case if we see a rejection and a break below 3,940 we will see that trend has reversed to bearish. Until then bulls remain in control.

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Benefit from analysts’ recommendations right now
Top up trading account
Open trading account

InstaSpot analytical reviews will make you fully aware of market trends! Being an InstaSpot client, you are provided with a large number of free services for efficient trading.

لا تستطيع التحدث الآن؟
اطرح سؤالك في الدردشة.