S&P500 has turned neutral on the 1D timeframe (RSI = 46.008, MACD = 1.700, ADX = 33.340) after today's 1D candle crossed under the 1D MA50. To make matters worse, the 1D MACD is reversing and if the price doesn't rise, it will form the first Bearish Cross on such low level since June 10th 2022.
On the brightside, the 0.382 Fibonacci level is still holding, and if it continues to close candle over it, this correction will turn out to be just a minor pullback similar to January 19th. So until the bearish conditions emerge, we will be bullish, targeting the 1.236 Fibonacci extension (TP = 4,670).
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On the brightside, the 0.382 Fibonacci level is still holding, and if it continues to close candle over it, this correction will turn out to be just a minor pullback similar to January 19th. So until the bearish conditions emerge, we will be bullish, targeting the 1.236 Fibonacci extension (TP = 4,670).
## If you like our free content follow our profile to get more daily ideas. ##
## Comments and likes are greatly appreciated. ##
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Telegram: t.me/investingscope
investingscope.com
Over 65% accuracy on Private Signals Channel.
Over 15% return monthly on our Account Management Plan.
Account RECOVERY services.
Free Channel: t.me/investingscopeofficial
investingscope.com
Over 65% accuracy on Private Signals Channel.
Over 15% return monthly on our Account Management Plan.
Account RECOVERY services.
Free Channel: t.me/investingscopeofficial
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.