Today we will share our view on the S&P500 CFD using the 4hs chart.
a) Currently, the price is testing a relevant support/resistance zone, there we want to see if the level will be broken OR if we will see a bounce there
b) In any of the two cases we have mentioned, we expect the price to bounce either on the support zone or in the ascending trendline
c) From there, we will pay attention to the breakout of the corrective structure's descending trendline.
d) We will develop long setups towards the all-time highs zone IF we have a clear breakout + a small corrective structure on the 30minutes chart
a) Currently, the price is testing a relevant support/resistance zone, there we want to see if the level will be broken OR if we will see a bounce there
b) In any of the two cases we have mentioned, we expect the price to bounce either on the support zone or in the ascending trendline
c) From there, we will pay attention to the breakout of the corrective structure's descending trendline.
d) We will develop long setups towards the all-time highs zone IF we have a clear breakout + a small corrective structure on the 30minutes chart