SPX Will Go Higher From Support! Buy!

6 de ago.

Take a look at our analysis for SPX.

Time Frame: 1D
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish

The market is trading around a solid horizontal structure 5,186.63.

Considering the today's price action, probabilities will be high to see a movement to 5,319.70.

P.S
The term oversold refers to a condition where an asset has traded lower in price and has the potential for a price bounce.
Overbought refers to market scenarios where the instrument is traded considerably higher than its fair value. Overvaluation is caused by market sentiments when there is positive news.

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7 de ago.

Nota

I am confident in this trade so I will keep it open!