The S&P500 index / US500 may have pulled back a little today but on the long term pattern, which is a Rising Megaphone, it only shows that it turned sideways.
This ranged trading, is the consolidation that the previous leg up did after rebounding on the 0.618 Fib and the 1day MA50.
The index is possibly repeating this pattern so what's next is a rally to the 1.618 Fib extension.
Buy and target 6000.
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This ranged trading, is the consolidation that the previous leg up did after rebounding on the 0.618 Fib and the 1day MA50.
The index is possibly repeating this pattern so what's next is a rally to the 1.618 Fib extension.
Buy and target 6000.
Follow us, like the idea and leave a comment below!!
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TheCryptagon offers news & insights on global markets (crypto, forex, stocks, commodities). Follow so you don't miss anything!
🤑Message us for private forex & crypto signals in our VIP channel (70% accuracy)!💰
TELEGRAM: t.me/thecryptagon
🤑Message us for private forex & crypto signals in our VIP channel (70% accuracy)!💰
TELEGRAM: t.me/thecryptagon
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.