Technical Overview of S&P500(SPX)
Good Evening!
$SPX ( S&P500 ) as of February 18, 2021: SPX decreased by 17.36 (-0.44%) points.
Intraday Movement - 2H chart
In the first candle, SPX started with a gapped down and penetrated the EMA50 and bounced back and made a close near the top. The following two candles made an HL and HH. The last candles made a HH but closed below the open, and we got a red candle.
Daily Chart
Due to intraday recovery, SPX made a hammer candle in the daily chart, which is the first sign of a reversal. But it needs to move above 3934 for a confirmation of a reversal. If the SPX continues to go down, we have support around 3869 and 3784.
Happy Trading!
Good Evening!
$SPX ( S&P500 ) as of February 18, 2021: SPX decreased by 17.36 (-0.44%) points.
Intraday Movement - 2H chart
In the first candle, SPX started with a gapped down and penetrated the EMA50 and bounced back and made a close near the top. The following two candles made an HL and HH. The last candles made a HH but closed below the open, and we got a red candle.
Daily Chart
Due to intraday recovery, SPX made a hammer candle in the daily chart, which is the first sign of a reversal. But it needs to move above 3934 for a confirmation of a reversal. If the SPX continues to go down, we have support around 3869 and 3784.
Happy Trading!