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November 04, 2020 at 03:34PM
• S&P 500 rising inside impulse wave 3
• Likely to reach 3540.00
S&P 500 continues to rise inside the sharp upward impulse wave 3, which started recently from the pivotal support level 3240.00 (low of Morning Star from September) – standing near the lower daily Bollinger Band and 38.2% Fibonacci correction of the upward impulse from May.
The active impulse wave 3 belongs to the longer-term upward impulse sequence (3) which started from the same support level 3240.00 in September.
S&P 500 is likely to rise further toward the next resistance level 3540.00 (previous monthly high from October).
From: The FxPro Tech Analysis Team https://fxpro.news/market-snapshots/sp-500-analysis-04-november-2020-20201104/
Selected by fonecable.com
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