SPX 2890 CONSOLIDATION (IN)COMPLETE!!!
RECAP 2182-2641=1/A, 2641-2431=2/B, 2431-2890=3/C!!, 2890-2724=4/D!!, 2724-?=5/E!!
Expected analysis was for 3 waves to the upside A=2641-B=2431,C=2890(100%), which is perfect however 2930 = 62% retracement, 2890-2930 price zone needs to be tested for resistance. if prices break out above 2890-2930 then price extension expected up to 3016 where C=A*127%. Price here will between 88% of 3138-2182 & 70% of 3393-2182 =3030-3040 resistance zone.
Price resistance from 2724-2842-2762= 2880(100%),2912(127%),2953(162%), above 2860-2880 caution warranted as prices could be explosive above 2940 = T1=2950-2975, T2= 2990-3010, T3=3027-3040.
Price support= 2850-2840, 2760-2740, 2720-2700, price needs to break below these levels to consolidate lower and likely back to retest the 2670-2630 or 2600-2575 support zone.
Break below 2600-2575 then expected support zone = 2460-2400.
Expected analysis was for 3 waves to the upside A=2641-B=2431,C=2890(100%), which is perfect however 2930 = 62% retracement, 2890-2930 price zone needs to be tested for resistance. if prices break out above 2890-2930 then price extension expected up to 3016 where C=A*127%. Price here will between 88% of 3138-2182 & 70% of 3393-2182 =3030-3040 resistance zone.
Price resistance from 2724-2842-2762= 2880(100%),2912(127%),2953(162%), above 2860-2880 caution warranted as prices could be explosive above 2940 = T1=2950-2975, T2= 2990-3010, T3=3027-3040.
Price support= 2850-2840, 2760-2740, 2720-2700, price needs to break below these levels to consolidate lower and likely back to retest the 2670-2630 or 2600-2575 support zone.
Break below 2600-2575 then expected support zone = 2460-2400.
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Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.