SPX500 Bounce Towards W H4 is Expected

1 min read
Nenad Kerkez

Nenad Kerkez

Head of Trading

Dear traders,

The SPX500 is bullish. We might see a bounce from 61.8 fib as the price has established a double bottom.

61.8 is within the 88.6 of the last swing and 100.0 of the major swing on H1 time frame. 3560 zone is where bounce is expected towards 3600 and 3631. However, as the 88.6 of the major swing is lower and in a  confluence with D L4, we could also expect a bounce if the price dips deeper. The zone is 3525-30. Bulls are advancing.

The Analysis has been done with the Black Widow system.

Good trading,
Nenad Kerkez

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