Anyone shorting SPX?
Hi guys!
Anyone thinking of shorting $S&P 500 Index (.SPX.US)$?
On the daily timeframe, with prices moving in a descending trend channel, we have a bearish bias that price will continue to drop form the entry at 3904.920 at the overlap resistance in line with the 50% fibonacci retracement to the take profit at 3646.730 at the swing low in line with the 61.8% fibonacci projection.
Alternatively, price may break through the resistance and rise to the stop loss at 4086.796 at the pullback resistance.
Take profit: 3646.730![]()
Stop loss: 4086.796![]()
Entry: 3904.920![]()
Let me know what you think!
Anyone thinking of shorting $S&P 500 Index (.SPX.US)$?
On the daily timeframe, with prices moving in a descending trend channel, we have a bearish bias that price will continue to drop form the entry at 3904.920 at the overlap resistance in line with the 50% fibonacci retracement to the take profit at 3646.730 at the swing low in line with the 61.8% fibonacci projection.
Alternatively, price may break through the resistance and rise to the stop loss at 4086.796 at the pullback resistance.
Take profit: 3646.730
Stop loss: 4086.796
Entry: 3904.920
Let me know what you think!
If you wish to leverage on this, consider using DLCs:
$S&P 5xLongSG250228A (CYAW.SG)$
$S&P 5xShortSG250228A (CZEW.SG)$
$S&P 5xLongSG250228A (CYAW.SG)$
$S&P 5xShortSG250228A (CZEW.SG)$
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