• SPX is in a bearish trend as it has triggered a bearish pivot point at 4,060, making a lower high/low, and is below the 21 ema;
• Now, the 21 ema and 4,060 are resistance levels. However, talking short term, the 4,015 (red line) is doing a competent job holding the price;
• Therefore, there are many resistance levels on the SPX, and it will not be easy for it to reverse the bearish sentiment;
• If he loses the 3,949 support, the next stop would be the 3,885;
• So far, the index is bearish, and there is no clear bottom signal on it yet. I will keep you updated on this.
Remember to follow me to keep in touch with my daily analysis!
• Now, the 21 ema and 4,060 are resistance levels. However, talking short term, the 4,015 (red line) is doing a competent job holding the price;
• Therefore, there are many resistance levels on the SPX, and it will not be easy for it to reverse the bearish sentiment;
• If he loses the 3,949 support, the next stop would be the 3,885;
• So far, the index is bearish, and there is no clear bottom signal on it yet. I will keep you updated on this.
Remember to follow me to keep in touch with my daily analysis!
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