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HomeTrading FocusedTechnical OutlookS&P500, Gold Technical Outlook For April 04

S&P500, Gold Technical Outlook For April 04

S&P 500

S&P500 Trend Analysis – SPX (EoD) Chart

SPX closed in green 5200 but could not sustained the morning rally. Open and low of the day was the same, this is positive for the market at this point

– Weekly Trend is up

– Daily Trend is up

– Hourly Trend is still down

– Weekly swing high is around 5255 and first resistance is around 5234

– Weekly swing low is around 5180 but if this breaks next support come just below 5160.

Gold Is Going Strong!

– Gold reached over 2320 and strong trend still continues, Its seem overbought zone now, a small pullback can be expected

– So many positive news are pushing the price high!

– I have booked my profit at 2320 for now

– Any pull back can be a buying opportunity!

– Daily Swing low is around 2280, Hard SL is 2240

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