Those who choose to ignore fibonacci numbers in markets, this is for you! Just check out a daily chart of the S&P 500 index. If you included the most recent range, more specifically, the area from the December (2022) low to the February high, the 61.8 % retracement level comes in at 3929.11. Well, just yesterday morning after spending the first 15 minutes of the day just under 3929 before rallying all the way into today's close! The low came in at 3928.16 less than a point difference!
Fortunately for bulls, the latest rally has stabilized downward momentum seen over the past month, but will have to potentially encounter the 61.8 % retracement of the recent decline. Also, this is near the key 4100 region, which capped the recovery back in December. That said, the 20-day moving average and the correlating 50% retracement could offer resistance ahead of 4100.
Fortunately for bulls, the latest rally has stabilized downward momentum seen over the past month, but will have to potentially encounter the 61.8 % retracement of the recent decline. Also, this is near the key 4100 region, which capped the recovery back in December. That said, the 20-day moving average and the correlating 50% retracement could offer resistance ahead of 4100.
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Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.