SPX – 3040 Level Could Provide New Wave of BuyersThe SP500 index is extremely bullish. Yesterday trade was closed for 140 pips straight of 3036 (green dot) and I expect new longs around 3040 retest.
A bullish reversal pattern or a signal might appear in the 3040 zone and I am looking forward to seeing a possible rejection there. We can also spot a Wizz Lvl 1 and Order block in the POC zone. A new bounce will target 3044, 3050 ad 3059. Above 3059, the new high will be 3065. Buying the dip is the scenario as bullish domination continues.
The analysis has been done with the CAMMACD.MTF template.
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Many green pips,
Nenad Kerkez aka Tarantula FX