Following last week's buy signal (chart below) on the S&P500 index (SPX), we shift our attention on the 1W time-frame where the new long-term buy signal has just been confirmed:
As you see, the price closed above the 1D MA50 (red trend-line) yesterday, invalidating any bias for further decline and confirming the resuming of the long-term bullish trend within the Channel Up pattern since the October 2022 bottom.
The 1W RSI rebounded exactly on its Higher Lows trend-line, giving a strong bottom signal where previous rebounds have been completed at least a +9.85% rise. As a result, we update our long-term target to 4750.
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As you see, the price closed above the 1D MA50 (red trend-line) yesterday, invalidating any bias for further decline and confirming the resuming of the long-term bullish trend within the Channel Up pattern since the October 2022 bottom.
The 1W RSI rebounded exactly on its Higher Lows trend-line, giving a strong bottom signal where previous rebounds have been completed at least a +9.85% rise. As a result, we update our long-term target to 4750.
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** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! **
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👑Best Signals (Forex/Crypto+70% accuracy) & Account Management (+20% profit/month on 10k accounts)
💰Free Channel t.me/tradingshotglobal
🤵Contact info@tradingshot.com t.me/tradingshot
🔥New service: next X100 crypto GEMS!
💰Free Channel t.me/tradingshotglobal
🤵Contact info@tradingshot.com t.me/tradingshot
🔥New service: next X100 crypto GEMS!
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.