Short-term technical analysis on SPX for December 5th, 2022. | Market Analysis
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Short-term technical analysis on SPX for December 5th, 2022.
16:01 2022-12-05 UTC--5
Exchange Rates analysis

Blue line -resistance

Green line- support

SPX is under pressure today. The week has not started well for bulls as price is breaking below Friday lows. The rejection at the blue downward sloping resistance trend line has been confirmed. However short-term trend remains bullish. As long as price is above the green support trend line we can remain short-term bullish. A break below the green trend line combined with the rejection at the blue trend line, would be a very important bearish signal. Currently price is at a very important junction and traders need to be cautious.

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Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.
Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.