The legend in the InstaSpot team!
Legend! You think that's bombastic rhetoric? But how should we call a man, who became the first Asian to win the junior world chess championship at 18 and who became the first Indian Grandmaster at 19? That was the start of a hard path to the World Champion title for Viswanathan Anand, the man who became a part of history of chess forever. Now one more legend in the InstaSpot team!
Borussia is one of the most titled football clubs in Germany, which has repeatedly proved to fans: the spirit of competition and leadership will certainly lead to success. Trade in the same way that sports professionals play the game: confidently and actively. Keep a "pass" from Borussia FC and be in the lead with InstaSpot!
SPX is trading around 4,360. In our last SPX analysis when the index was just above 4,100, we noted the bullish divergence in the RSI that was warning bears that the downtrend was weakening. Today after almost a week we see SPX challenging the Kumo (cloud) resistance. In Ichimoku cloud terms, trend remains bearish because price is still below the daily Kumo (cloud). Price is trading above the tenkan-sen (red line indicator) and the kijun-sen (yellow line indicator). The Chikou span (black line indicator) is above the candlestick pattern (bullish). There are several bullish signs in the chart but the most important sign for bulls will be the break out above the cloud. Traders need to be very cautious as a rejection at current levels could bring the index back towards the kijun-sen support at 4,250.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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