S&P at support levels, signal for a upward impulse

05.10.2016 / 04:27

Rating:

S&P 05.10.2016

H4 chart

Long-term and mid-term upward tend, short-term consolidation. Price made a correction to levels of horizontal and diagonal support and Fibo 50.0. The correction at the last bullish pin bar(50%), which give us a opportunity for closer SL.

Price action signal - Pin bar at levels of horizontal and diagonal support

Technical Indicators:

CCI(50) - In overbought area and turning - at a breakthrough at -100, the upward impulse will increase.

SL: 2140.00

Alternative scenraio: If the price goes below the horizontal and diagonal support, the negative scenario will change toward positive and a new upward movement may occur.

Jr_Trader_B_Arabadzhiev

Varchev Traders

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S&P at support levels, signal for a upward impulse

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