The S&P 500 rallied during the day on Friday, testing the top of the shooting star from Thursday. I think the market is going to basically consolidate
The S&P 500 rallied during the day on Friday, testing the top of the shooting star from Thursday. I think the market is going to basically consolidate around the 2350 handle, but more than likely the buyers will eventually return. A break above the top of the Thursday candle would be a nice buying opportunity, reaching towards the 2400 level. Even if we fall from here, I believe that the 2300 level underneath is massively supportive and essentially the “floor” in this market. With this being the case, I believe that we are eventually going to reach towards the 2500 level.
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.
