US500 Will Go Up From Support! Long!

Please, check our technical outlook for US500.

Time Frame: 1D
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish

The market is testing a major horizontal structure 4556.3.

Taking into consideration the structure & trend analysis, I believe that the market will reach 4744.4 level soon.

P.S
The term oversold refers to a condition where an asset has traded lower in price and has the potential for a price bounce.
Overbought refers to market scenarios where the instrument is traded considerably higher than its fair value. Overvaluation is caused by market sentiments when there is positive news.

Like and subscribe and comment my ideas if you enjoy them!

Komentarz:

Great beginning for a trade, let’s hope it goes further!