Forex Trading Library

SPX500 Cycle Impulse Pushes Over 5000!

0 718

SPX500

The current SPX500 structure hints at the formation of a major impulse trend.

The primary wave ③, which is part of the cycle impulse V, is currently developing. It is a bullish impulse marked by intermediate sub-waves (1)-(2)-(3)-(4)-(5).

In the near future, the price will continue to rise to the level of 4824.14. This is marked the minor impulse 3. At that level, the entire primary wave ③ could end.

After the completion of the bullish impulse, market participants can expect a change in the stock price in the primary correction ④ towards 3913.22. At that level, the correction will be at 38.2% of the previous impulse.

SPX500

Another option suggests that the formation of the impulse wave ③ is fully complete. The wave peaked at 4817.52, which is when the decline began.

We see an intermediate zigzag (A)-(B)-(C), which forms the primary correction ④.

Most likely, the index will fall in correction near 3919.10 soon. At that level, wave ④ will be at 38.2% of impulse ③. The probability of achieving this coefficient is high. Then the price could rise in the primary fifth wave.

Test your strategy on how SPX500 will fare with Orbex - Open your account now. 

Leave A Reply

Your email address will not be published.