S&P 500: ⬆️ Buy
- S&P 500 reversed from strong support level 6600.00
- Likely to rise to resistance level 6800.00
S&P 500 index recently reversed from the support area between the multi-month support level 6600.00 (which has been reversing the index from September), lower daily Bollinger Band and the 50% Fibonacci correction of the upward impulse from December.
The upward reversal from this support zone is likely to form the daily Japanese candlesticks reversal pattern Bullish Engulfing.
Given the strong daily uptrend, S&P 500 index can be expected to rise to the next resistance level 6800.00 (former strong support from January and February).
, lower daily Bollinger Band and the 50% Fibonacci correction of the upward impulse from December.){kind=link}