The S&P 500 initially fell during the course of the session on Tuesday, testing the 2100 level for support. That area of course offered upward
The S&P 500 initially fell during the course of the session on Tuesday, testing the 2100 level for support. That area of course offered upward pressure, forming a hammer. The market breaking above the top of the range during the session on Tuesday would be reason enough to start buying. This market should continue to go higher given enough time, so even if we break down below here we are looking for supportive candles in order to start buying yet again. In fact, we have no interest whatsoever in selling this market at the moment as there is a significant amount of support below.
Chris is a proprietary trader with more than 20 years of experience across various markets, including currencies, indices and commodities. As a senior analyst at FXEmpire since the website’s early days, he offers readers advanced market perspectives to navigate today’s financial landscape with confidence.
