The S&P closed yesterday above the main support level of
$1,360, after the bears dominated the first half of the session.
The bulls managed finally to keep their bids high until the
end of the session and they formed a hammer type of candle that usually
anticipates a rising move when it occurs at the end of a down swing.
Having all the Europe uncertainty in mind, a reaction is
possible and the targets are represented by the 3 main Fibonacci levels: 1,374,
1,381 and 1,389.
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