empty
 
 
02.06.2023 06:55 PM
Technical analysis on SPX for June 2nd, 2023.

This image is no longer relevant

Green upward sloping line- support trend line

Yellow rectangle- resistance area

Green horizontal lines- Fibonacci extension targets

Following our last analysis on SPX from May 30th, we see price reaching our first Fibonacci extension target at 4,292. Price continues making higher highs and higher lows. Trend remains bullish as we mentioned in our previous SPX analysis as long as price holds above 4,105. SPX has clearly broken above the yellow rectangle resistance area as the RSI is also making new higher highs confirming the bullish momentum. Major support remains at the green support trend line. We expect this upward momentum to continue.

Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $1000 more!
    In October we raffle $1000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback