S&P500 is signaling a possible trend reversal on the intraday charts with price not breaching resistance.

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MARKET ANALYSIS

November 13, 2024

S&P500 is signaling a possible trend reversal on the intraday charts with price not breaching resistance.

S&P500 is trapped in a Channel Up formation, implying that a breakout is Imminent. This is a great trade-setup for both trend and swing traders. It is now approaching a resistance line that has been tested in the past. Divergence opportunists may be very optimistic about a possible breakout and this may be the start of a new trend. It may also be that this convergence factor may result in the ideal setup for swing traders that are on the lookout for a possible bounce-back. Whatever happens, an initial move towards 5971.4618 is expected in the short term.

Indices

Market Analysis

31.12.24

After testing 5980.4600 numerous times, S&P500 is once again approaching this price point. Can we expect a bullish trend to follow?

S&P500 is approaching a resistance line at 5980.4600. If it hits the resistance line, it may break through this level to continue the bullish trend, or it may turn around back to current levels.

Market Analysis

31.12.24

Will XAUUSD break through the resistance level it tested before?

XAUUSD is approaching a resistance line at 2629.6499. If it hits the resistance line, it may break through this level to continue the bullish trend, or it may turn around back to current levels.

Market Analysis

31.12.24

EURUSD heading towards a price it has tested 4 times in the recent past.

A strong resistance level has been identified at 1.0447 on the 30 Minutes EURUSD chart. EURUSD is likely to test it soon.

Market Analysis

31.12.24

After testing 3461.5200 numerous times, ETHUSD is once again approaching this price point. Can we expect a bullish trend to follow?

ETHUSD is moving towards a key resistance level at 3461.5200. ETHUSD has previously tested this level 4 times and on each occasion it has bounced back off this level. Is this finally the time it will break through?

Market Analysis

31.12.24

GBPJPY hits 195.993 after a 1.36% move spanning 23 hours

GBPJPY has moved lower by 1.36% from 198.688 to 195.993 in the last 23 hours.

Market Analysis

31.12.24

FTSE100 is quickly approaching a very important level it has previously tested numerous times in the past

FTSE100 is moving towards a support line. Because we have seen it retrace from this level in the past, we could see either a break through this line, or a rebound back to current levels. It has touched this line numerous times in the last 12 days and may test it again within the next […]

Market Analysis

31.12.24

NGC/USD has broken out from the Triangle pattern. Expect it to hit 3.9500 soon.

NGC/USD has broken through a support line of a Triangle chart pattern. If this breakout holds true, we may see the price of NGC/USD testing 3.9500 within the next 6 hours. But don’t be so quick to trade, it has tested this line in the past, so you should confirm the breakout before taking any […]