Critical week ahead. SPX need to rebound from this support zone, downside risk is high at this key cloud chart support level. There is the potential for a move up to 2925!
Thursday, 29 August 2019
S&P500 Index: Fighting hard for support at cloud support zone-2872
S&P500 Index: Fighting hard for support at cloud support zone-2872.
Critical week ahead. SPX need to rebound from this support zone, downside risk is high at this key cloud chart support level. There is the potential for a move up to 2925!
The front end of the cloud is indicating that there is the start of a downtrend on the daily chart. Over the medium term we can see a rally back up to the bottom end of the top end of the cloud if support holds. But after that move, we can still correct and move lower.
Critical week ahead. SPX need to rebound from this support zone, downside risk is high at this key cloud chart support level. There is the potential for a move up to 2925!
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