S&P 500 Wave Analysis – ActionForex

S&P 500: ⬆️ Buy

– S&P 500 reversed from support zone

– Likely to rise to resistance level 7500.00

S&P 500 index recently reversed up from the support zone between the support level 7290.00 (which has been reversing the price from the start of June), lower daily Bollinger Band and the 61.8% Fibonacci correction of the previous upward impulse from April.

The upward reversal from this support zone stopped the previous short-term correction ii

Given the strong daily uptrend, S&P 500 index can be expected to rise further to the next resistance level 7500.00.