SPX approaching resistance, potential drop!
SPX is approaching our first resistance at 2565 (50%, 61.8% fibonacci retracement, 61.8% fibonacci extension , horizontal pullback resistance) and a strong drop might occur below this level pushing price down to our major support at 2330 (horizontal swing low resistance, 61.8% fibonacci extension).
Stochastic (55,5,3) is also approaching resistance and we might see a corresponding drop in price should it react off this level.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks
Stochastic (55,5,3) is also approaching resistance and we might see a corresponding drop in price should it react off this level.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks
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