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FX.co ★ Technical Analysis of Intraday Price Movement of S&P 500 Index, Wednesday, November 22 2023.

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Forex Analysis:::2023-11-22T05:17:08

Technical Analysis of Intraday Price Movement of S&P 500 Index, Wednesday, November 22 2023.

Technical Analysis of Intraday Price Movement of S&P 500 Index, Wednesday, November 22 2023.

Based on what it seen from the 4 hour chart, S&P 500 index which is currently above Kumo as well as Golden Cross Tenkan above Kumo also followed by Chikou Span which is above the price movement and Kumo as well as Future Kumo is at the Bullish condition which is also confirmed by the breach of the 3 important levels of CCI indicator above, then we can conclude that in the near future #SPX has the probability to strengthening upward until the level 4617,40 as the first target. And if the momentum and the price movement good enough, then it is not impossible that the level 4812,23 will become the next target to be aimed of, but this scenario will become invalid and cancel itself if there is the downward correction which breaks below the level 4410,10.

(Disclaimer)

Analyst InstaForex
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