SPX500USD Is Bullish! Buy!

25 de out.

Please, check our technical outlook for SPX500USD.

Time Frame: 8h
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish

The market is on a crucial zone of demand 5,836.4.

The oversold market condition in a combination with key structure gives us a relatively strong bullish signal with goal 5,891.1 level.

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.

Like and subscribe and comment my ideas if you enjoy them!