Last week the S&P 500 closed on an interesting note: a doji candle right near the 50 SMA. The chart below illustrates.
We're still in a price channel, and are hovering near a horizontal support level as well as the 50% Fibonacci retracement from the rally starting at the end of August.
Based on these factors, I think we may have some evidence for bulls to place entry orders.
What do you think?
https://www.tradingview.com/x/nbFZTxEz/
We're still in a price channel, and are hovering near a horizontal support level as well as the 50% Fibonacci retracement from the rally starting at the end of August.
Based on these factors, I think we may have some evidence for bulls to place entry orders.
What do you think?
