SP500 Technical Analysis ES1! futures S&P 500 Index 3-16-23
What’s on the market now:
Today the S&P500 (ES1!) is trading at 3911. Yesterday we saw the market moving towards the expected target zone at 3836 where the reversal I mentioned earlier took place. Now the market is in the decision zone. Thus the market is clamped in a vise. As I wrote yesterday, the market is now trying to move the index up to the level of 4068. However, if this attempt is broken, we will see a sharp decline in the index to the level of 3735. But globally, the market has every chance to continue its growth until April.
However, a new problem is now brewing in the market, the fall in oil prices.
If you didn’t see my analysis yesterday, you can check it out here.
What today:
S&P500 (ES1!) on the charts today: At the open of the market today, I expect the market to try to rise to the level of 4023 and above. However, if this attempt is broken, we will see a sharp decline towards 3735.
Give me thumb up if you agree with today’s trading idea. Also remember to contact me in 2 or 3 days for further trading advice. If you have any questions about analytics and my trading logic, then I recommend that you read the FAQ. Also share a link to my blog, it will greatly help in its movement. Follow me on Twitter to stay up to date on S&P 500 index. Also visit my about me page to get to know me better.
