The S&P 500 fell during the course of the session on Wednesday, showing a little bit of resistance. However, the area just below is supportive, as the
The S&P 500 fell during the course of the session on Wednesday, showing a little bit of resistance. However, the area just below is supportive, as the 2100 level was previously resistive. With this being the case, the market looks as if it is ready to go higher, and as a result we are buyers of supportive candles in this general vicinity. We believe that the market will reach towards the 2130 level, but could see quite a bit of volatility between here and that level. With this, you will have to be able to hang onto choppy conditions in order to take advantage of any buying opportunity.
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.
