In my last SP500 analysis, I've spoken about the 2900 strong sell zone. The index has reversed exactly from this area and now is trading at 2800 rising trend line support.
I believe this support will give up and a drop for SP is imminent.
I drop to 2200 is definitively in the cards in the next period, but a new low for this bearish market is not out of the question.
Prices under 2900-3000 should be sold for at least a target of 2200 in the medium term
I believe this support will give up and a drop for SP is imminent.
I drop to 2200 is definitively in the cards in the next period, but a new low for this bearish market is not out of the question.
Prices under 2900-3000 should be sold for at least a target of 2200 in the medium term
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