S&P 500 Index: ⬆️ Buy
– S&P 500 Index reversed from support zone
– Likely to rise to resistance level 7820.00
S&P 500 Index recently reversed up from the support zone between the 50% Fibonacci correction of the previous upward impulse wave 1, the lower daily Bollinger Band and the support trendline of the daily down channel from August.
The upward reversal from this support zone stopped the previous intermediate ABC correction 2 from last month.
Given the overriding daily uptrend, S&P 500 Index can be expected to rise further toward the next resistance level 7820.00 – which stopped the previous impulse wave 1.
