S&P 500: Short-Term Sell (Update)
S&P 500 Futures, 4-Hour Chart Analysis
The S&P 500 has been pushed higher by the strength in the energy sector today, and the index got close to its previous highs near the 2400 level. Should the rally continue, our stop-loss recommendation might be in play in the coming days at 2412. The benchmark has been lagging the market leaders in the past two weeks, but a rally to new all-time highs could mean another swing higher before a significant correction. Traders holding long positions should keep stop-losses near the 2370 level, below the short-term support and the rising short-term trendline.
Trade Recommendation: EURJPY
The price diverges with MACD histogram and RSI. It gives us a trend reversal signal and a new buy opportunity. MACD supports upward movement and DMI allows opening long trades. Buy orders should be placed at 132.05 level with stop at 131.60 level. Profit targets are 132.50 and 133.00 levels. Don’t risk more than 3% from your deposit in this trade.
Profit Targets: 132.50 and 133.00
Trade Recommendation: Waves
This trading idea is based on a bullish divergence. It’s a trend reversal signal near the 0.000650 support level. The price diverges with the MACD histogram and RSI.
The MACD lines support upward movement. DMI allows to open long trades. We have buy opportunity. Pending orders should be placed at the 0.000760 level with stop orders at the 0.000620 level. Profit targets are 0.001000 and 0.001300 levels. If you don’t use leverage, the recommended trading volume for this trade is up to 10% from your deposit.
Profit Targets: 0.001000 and 0.001300
The trading signal is based on Bittrex chart.
Trade Recommendation: Stellar
There is a new trading opportunity for Stellar (STR/USD). The price is at a possible reversal zone formed by the uptrend line, 0.016000 support level and Kijun line of the Ichimoku indicator. We should expect a price reversal with further upward movement. DMI confirms trend market conditions and allows us opening long trades. Pending buy orders should be placed at 0.019000 level with stop orders at 0.014500 level. Profit targets are 0.024500 and 0.030000 resistance levels. If you don’t use leverage, recommended trading volume for this trade is up to 5% from your deposit.
Profit Targets: 0.024500 and 0.030000
The trading signal is based on Poloniex chart.
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