Market at a Glance. Heading to Test the Support Level.
Last week se saw a lot of sell activity in the market. I see there's a Support level around 4300, where it will hit a double bottom from the level it reached on the month of October las year.
All the sectors in the red, with the exception of Energy, which has been having a rally and it's still in an uptrend unless the indicators say otherwise. Gold is gaining some traction from its 1800 level where it has been consolidating for a while.
Bitcoin took a hit, but it is approaching the 30K support level, and if this holds we can expect another a possible reversal. Both markets, the stock market and the crypto market are approaching to important support levels that have to be tested to determine if a rally is ignited or if the downtrend will continue.
Levels to watch:
SPX : 4300
Bitcoin: 30K
All the sectors in the red, with the exception of Energy, which has been having a rally and it's still in an uptrend unless the indicators say otherwise. Gold is gaining some traction from its 1800 level where it has been consolidating for a while.
Bitcoin took a hit, but it is approaching the 30K support level, and if this holds we can expect another a possible reversal. Both markets, the stock market and the crypto market are approaching to important support levels that have to be tested to determine if a rally is ignited or if the downtrend will continue.
Levels to watch:
SPX : 4300
Bitcoin: 30K
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