SNP500 Bullish Range Persists but Watch for the FOMC Meeting
March 17, 2021
2 min read
Dear traders,
Today we have a FOMC meeting. Federal Funds Rate should remain below 0.25 % and generally I expect a balanced to positive FOMC statement.
If there are any surprises from the market we could see a strong move to the downside as a part of a retracement. That could actually mean a good thing for buyers as we could start searching for long opportunities. A drop in the SNP500 could go towards the POC. 3752-3777 is the zone. If the breakout happens watch for 3981 to the long side towards 4024.
The Analysis has been done with the Black Widow system.
Good trading,
Nenad Kerkez
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