Friday 04th November 2022: Technical Outlook and Review
On the H4 chart, the overall bias for S&P500 is bearish . Overnight, price continued its bearish momentum with price closing under the 1st resistance at 3805.83 where the 38.2% Fibonacci line is located.
Thursday 3rd November 2022: Technical Outlook and Review
The price is currently trading at 3759.68 at time of writing. If this bearish momentum continues, expect price to possibly head towards the 1st support at 3636.87 where the previous swing low and 78.6% Fibonacci projection line is located.
Wednesday 02nd November 2022: Technical Outlook and Review
On the H4 chart, the overall bias for S&P500 is bullish. To add confluence to this, the price is above the Ichimoku cloud which indicates a bullish market. Overnight, price continued to consolidate with price currently trading at 3856.11 at time of writing.
Tuesday 01st November 2022: Technical Outlook and Review
On the H4 chart, the overall bias for S&P500 is bullish. To add confluence to this, the price is above the Ichimoku cloud which indicates a bullish market. Overnight, price continued to consolidate with price currently trading at 3871.97 at time of writing.
Monday 31st October 2022: Technical Outlook and Review
On the H4 chart, the overall bias for S&P500 is bearish. However due to the weakening of the DXY, S&P500 had bullish momentum during the course of last week.
Thursday 27th October 2022: Technical Outlook and Review
On the H4 chart, the overall bias for S&P500 is bearish. However due to the weakening of the DXY, S&P500 had bullish momentum during the course of this week. Overnight, price has consolidated above the 1st support at 3811.03 where the 38.2% Fibonacci line is located. If
Wednesday 26th October 2022: Technical Outlook and Review
On the H4 chart, the overall bias for S&P500 is bearish. However overnight, price had a massive bullish momentum upwards due to the weakening of the DXY, with price closing above the Ichimoku cloud which might indicate a change to bullish momentum. Price is currently above the 1st support at 3811.03 where the 38.2% Fibonacci line is located.
Tuesday 25th October 2022: Technical Outlook and Review
On the H4 chart, the overall bias for S&P500 is bearish. Price has tapped into the 1st resistance at 3811.03 where the 38.2% Fibonacci line is located. With this short term bullish momentum, price could possibly break above the 1st resistance and head towards the 2nd resistance at 4016.04 where the 61.8% Fibonacci line is located.
Friday 21st October 2022: Technical Outlook and Review
Overnight, price has continued it’s bearish momentum downwards with price expected to tap onto the 1st support at 3636.87 where the 78.6% Fibonacci projection line is located.
