Chart of the Day – SPX500 – (January 18th, 2023)
The post Chart of the Day – SPX500 – (January 18th, 2023) appeared first on ForexAnalytix - Blog.
Another rejection for the SPX!
The SPX was creeping higher since the end of December, but we kept reminding our members that the trend remained lower as long as we kept respecting the descending channel.
Today’s rejection from the descending channel’s T/L resistance and subsequent strong move lower is a testament to that exactly. Keep looking lower against today’s high with 3870 being the first area of support.
The SPX got rejected once again from the channel’s T/L resistance.
Our “Chart of the Day” feature highlights standout technical analysis patterns and price moves. This type of analysis could be helpful if you are interested in our Trader Funding Program where you can also join an elite group of traders at Forex Analytix, click here to learn more. Trade our money, take 75% of the gains and none of the risk.
Steve Voulgaridis
The post Chart of the Day – SPX500 – (January 18th, 2023) appeared first on ForexAnalytix - Blog.
