S&P 500 update

11 мар. 2021 г.

Price formed a rising wedge here and now at the consolidation area between two zones. Considering recent stimulus ($1.9 trillion) approval in USA, which is supposed to be signed by Biden this week, markets are hopeful and bullish. A break of the resistance area and the wedge, preferably with a candle close above 3940, is a good buy signal to continue to target higher levels with good risk-reward options.
On the flip side, if we see a break to the downside, it is less likely at the moment, unless we have serious fundamental news coming out to scare the markets.

Good Luck and Stay Healthy!