www.varchev.com

SP500 - Short term profit opportunity

Varchev Finance - SP500 Short term bullish expectations

Rating:

12345
Loading...

SP500 H4 - Our expectations

It seems that the impact of the crisis in Turkey has been more concentrated on European markets, while US futures remain in the ascending channel of last week. The current retracement gives us the possibility of short-term profits to the en of working week.

The price is in upward trend, after correction to a key support level. A basic diagonal + horizontal is supported, supported by a 23.6% Fibonacci correction of the main trend. Price Acton - Formation "abandon baby" at support levels. In addition to Price Action, the price behavior of a smaller M5 chart, clearly shows that bulls take precedence, as rises are sharp and high at the expense of small and sustained declines. 50 and 200SMA are beaded and the price remains below the 50-year period. DeMarker points upwards from a surplus sales area, near a record low during upward movement - a positive signal.

Given the location of the price, as well as the damp foundation around Turkey, I expect a peak test to reach last week. At the beginning of the US session, we will most likely witness the allocation of capital from the health sector for the fine of nearly $300m. of Monsansto, whose product Roundup has been found to cause cancer.

SL: 2814.49

Alternative Scenario: If the price goes back below the support area and stays there, the positive scenario will be spoiled and more likely to see a fall in the index price.


 Trader Petar Milanov

Read more:

RECCOMEND WAS THIS POST USEFUL FOR YOU?
If you think, we can improve that section,
please comment. Your oppinion is imortant for us.
WARNING: Any news, opinions, research, data or other information contained within this website is provided as general market commentary and does not constitute investment or trading advice. Varchev Finance Ltd. expressly disclaims any liability for any lost principal or profits which may arise directly or indirectly from the use of or reliance on such information. Varchev Finance Ltd. may provide information, quotes, references and links to or from other sites and blogs and other sources of economic and market information as an educational service to its clients and prospects and does not endorse the opinions or recommendations of the sites, blogs or other sources of information.
Varchev Finance

London


25 Canada Square, Level 33, office 50, Canary Wharf London, E14 5LQ +44 20 3608 6256

Universal numbers

World Financial Markets - 0700 17 600    Varchev Exchange - 0700 115 44

Varchev Finance Ltd is registered in the FCA (FINANCIAL CONDUCT AUTHORITY) with a passport in the United Kingdom: FCA, United Kingdom - registration number: 494 045, which allows provision of financial services in the United Kingdom.

Varchev Finance Ltd strictly comply with the statutes of the European directive MiFID (Markets in Financial Instruments). targeting increased efficiency, transparency and uniformity of financial instruments.
Varchev Finance Ltd is authorized and regulated by the Financial Supervision Commission - Sofia, Bulgaria: License number RG-03-02-05 / 15.03.2006

The information on this site is not intended for distribution or use by any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.


Disclaimer:

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 63,41% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.

chat with dealer
chat with dealer
Cookies policy