#IntroToCopytrading
SP500
Title: S&P 500 Technical Analysis: Target Hit, Heading for Final Extension at 2,414đ«đ«đ«
Subtitle: S&P 500 Powered by Head and Shoulders Pattern, Target Hit on Way to 2,414âââ
Introduction:
Technical analysis of the S&P 500 index on a weekly time frame (1W) reveals a significant move from the $3,507 support. The bullish run, reinforced by a powerful head and shoulders pattern, allowed the price to break several key Fibonacci levels, between 0.38 and 0.81, before falling back to fill the prices. On September 20, 2024, the expansion targets at 1.272, 1.414, and 1.618 were reached, leaving the ultimate extension at 2.414 as the next cap.đ„đ„đ„
Summary:
The S&P 500 has moved from technical support at $3,507, through Fibonacci levels (0.38 to 0.81) and formed a head and shoulders pattern. This bullish pattern has pushed the index towards the Fibonacci extensions at 1.272, 1.414 and 1.618, reached on September 20, 2024. The next technical target is the final extension of 2.414, a level to watch for investors.đđđ
Hashtags :#SP500#TechnicalAnalysisđąđđ đ
