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!
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SPX is trading around 4,367 today, having started the week on a positive note, as it was ended last week. Price is challenging the Daily Kumo (cloud) resistance. The area around 4,370 is very important resistance and a daily close inside the Kumo would turn trend to neutral from bearish. The tenkan-sen (red line indicator) is at 4,237 while the kijun-sen (yellow line indicator) is at 4,250. This area of 4,237-50 is important support. The Chikou span (black line indicator) has crossed above the candlestick pattern turning bullish. Traders need to be cautious at current levels as a rejection at cloud resistance and a pull back towards the 4,250 is justified and common when price reaches the lower cloud boundary.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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