InvestMate|S&P 500 Technical Outlook
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📉S&P 500 Technical Outlook
📉Another technical look by me.
📉After the great gains I predicted in the previous post:
📉The time has come for a slightly broader look at the chart of the most important index in the world.
📉 In my analysis I used several tools:
📉1. I plotted a downtrend channel from peak to bottom
📉2. I measured fibo waves from peak to bottom
📉3. I measured the fibo waves from the bottom to the current peak.
📉4. I determined the one to one (overbalance) correction
of the largest downward correction in the current upward momentum.
📉4. I have delineated key support and resistance zones on the chart.
📉We see that we are currently at the upper edge of the downtrend channel.
📉 I believe that after such strong rises it will be time for a correction.
📉 It will come at the fibo level of the 0.382 peak-to-trough wave.
📉It may reach the 3800 level because here I find the fibo cluster 0.236 of the entire downtrend, the 0.382 level of the entire current upward implosion and the one to one level of the biggest downward correction.
📉 From here we are likely to try to rise again.
📉 If we break through the new peaks the rise to the 0.5 level of the entire wave is highly probable, there we will probably stop for a while as this level has been a strong support and resistance zone in the past.
🚀If you appreciate my work and effort put into this post I encourage you to leave a like and give a follow on my profile.🚀
📉Another technical look by me.
📉After the great gains I predicted in the previous post:
📉The time has come for a slightly broader look at the chart of the most important index in the world.
📉 In my analysis I used several tools:
📉1. I plotted a downtrend channel from peak to bottom
📉2. I measured fibo waves from peak to bottom
📉3. I measured the fibo waves from the bottom to the current peak.
📉4. I determined the one to one (overbalance) correction
of the largest downward correction in the current upward momentum.
📉4. I have delineated key support and resistance zones on the chart.
📉We see that we are currently at the upper edge of the downtrend channel.
📉 I believe that after such strong rises it will be time for a correction.
📉 It will come at the fibo level of the 0.382 peak-to-trough wave.
📉It may reach the 3800 level because here I find the fibo cluster 0.236 of the entire downtrend, the 0.382 level of the entire current upward implosion and the one to one level of the biggest downward correction.
📉 From here we are likely to try to rise again.
📉 If we break through the new peaks the rise to the 0.5 level of the entire wave is highly probable, there we will probably stop for a while as this level has been a strong support and resistance zone in the past.
🚀If you appreciate my work and effort put into this post I encourage you to leave a like and give a follow on my profile.🚀
Nota
Update
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💲 To keep up to date with all my activities I invite you to visit my Telegram 💲
💲 t.me/Investmatez 💲
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