S&P 500Short
SPX500 bearishas long as 3600 holds
SPX500 has reversed sharply from 3588 handle over the last week. The indice might have managed to carve a lower degree impulse wave around 3300 levels. The immediate support trend line has also broken and it would act as resistance, going forward. Any intraday rallies should be well capped around 3480 levels, which is fibonacci 0.618 retracement of the above drop. Bears should remain in control until prices stay below 3588 levels. Good to sell on rallies.
Remain short, stop above 3600, target is open.
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Trading Forex or any CFD products may not be suitable to all investors and they must evaluate their risk appetite. The above article should not be construed as a trading or investment advice as it is solely for education and information purpose only. Trading might incur a loss of capital and hence investors might be required to gain further knowledge regarding the risks involved. Leverage should be used wisely.
Remain short, stop above 3600, target is open.
Risk Disclaimer:
Trading Forex or any CFD products may not be suitable to all investors and they must evaluate their risk appetite. The above article should not be construed as a trading or investment advice as it is solely for education and information purpose only. Trading might incur a loss of capital and hence investors might be required to gain further knowledge regarding the risks involved. Leverage should be used wisely.
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