The S&P 500 initially tried to rally on Tuesday, but turned around to form a negative candle. The 20-day exponential moving average is just below, and
The S&P 500 initially tried to rally on Tuesday, but turned around to form a negative candle. The 20-day exponential moving average is just below, and it now looks as if the market is testing that area again, and it is a level that has been very reliable. I believe that the market will find buyers sooner rather than later, and I am bullish of this market in general. However, now I believe we are simply consolidating as we had a very strong moved to the upside lately. I’m buying bounces and of course supportive candles.
Being FXEmpire’s analyst since the early days of the website, Chris has over 20 years of experience across various markets and assets – currencies, indices, and commodities. He is a proprietary trader as well trading institutional accounts.
