SPX500USD approaching resistance, potential reversal!
SPX500USD is approaching resistance at 2684 (76.4% Fibonacci, 61.8% Fibonacci extension, 61.8% Fibonacci extension, horizontal overlap resistance) where price could potentially react off, causing it to fall to its support at 2622 (61.8% Fibonacci extension, 61.8% Fibonacci retracement, horizontal swing low support). We do have to be cautious of the intermediate support at 2655 (23.6% Fibonacci retracement, horizontal overlap support).
Stochastic (89, 5, 3) is approaching resistance at 98% where a corresponding reaction could occur.
Stochastic (89, 5, 3) is approaching resistance at 98% where a corresponding reaction could occur.
IC Markets is an online forex broker specialized in providing transparent trading solutions to both retail and institutional investors alike. We provide superior execution technology, lower spreads and unrivaled liquidity.