Relevance up to 16:00 UTC+00
Black lines – bullish channel
SPX is trading around $4,122. Trend remains bullish as price continues making higher highs and higher lows. Price is still trading inside the upward sloping channel since July low at $3,720. The RSI has already provided us with a bearish RSI divergence in the 4 hour chart. Price is challenging support at $4,100. Failure to hold above $4,100 would be a sign of weakness and could push SPX towards $3,900.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
Analytical expert of InstaForex
Benefit from analysts’ recommendations right now
Top up trading account
Open trading account
InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.