stocks

SPX testing bullish trend line support – Is it time for a bullish reversal?

Posted Monday, August 13, 2018 by
Arslan Butt • 1 min read

The U.S. futures took a bearish turn as soon as the markets opened for trading, to trade at $2,824. Most of the bearish trend began after Trump threatened to heighten the import duties from 20% to 50% on Chinese imports.

Technically, the SPX has tested the bullish trendline support area of $2,826. The closing of Doji candle right above bullish trendline support is suggesting a changing sentiment of investors.

SPX - 2 Hour Chart

S&P500 can take a bullish reversal above $2,826 to target $2,850. Whereas, below this ($2,826), the markets can go after $2,799. Good luck!

Check out our free forex signals
Follow the top economic events on FX Leaders economic calendar
Trade better, discover more Forex Trading Strategies
Related Articles
Stock markets are looking very bearish today, with bank shares leading the way down as the fears resurface again
1 month ago
Comments
0 0 vote
Article Rating
Subscribe
Notify of
guest
0 Comments
Inline Feedbacks
View all comments