Technical Analysis of Daily Price Movement of S&P 500 Index, Thursday May 04, 2023.
May 4, 2023 6:23 am
After successfully break above the level of 4177,57 but failed to touched its Weekly Old High level on 4195,24 as well as supported by the apperance of the deviation between price movement with MACD indicator, then in a few days ahead #SPX has the potential to depreciated down below up to the level 4051,17 where if this level successfully broken below then #SPX will continue the decline to the weekly Bullish Orderblock level of 3978.27. But if on the way to the previously mentioned level targets but suddenly there is a upward rally movement that breaks above the 4190.50 level then, all the scenarios of the decline previously described will become invalid and cancel with itself.
(Disclaimer)
The material has been provided by InstaForex Company – www.instaforex.com
After successfully break above the level of 4177,57 but failed to touched its Weekly Old High level on 4195,24 as well as supported by the apperance of the deviation between price movement with MACD indicator, then in a few days ahead #SPX has the potential to depreciated down below up to the level 4051,17 where if this level successfully broken below then #SPX will continue the decline to the weekly Bullish Orderblock level of 3978.27. But if on the way to the previously mentioned level targets but suddenly there is a upward rally movement that breaks above the 4190.50 level then, all the scenarios of the decline previously described will become invalid and cancel with itself.
(Disclaimer)
The material has been provided by InstaForex Company – www.instaforex.com
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