Trade Idea on S&P 500
I have been following the movement of the S&P 500 closely over the last couple of weeks and with the re-test of the triangle breakout we need a close above the 2742 level to trigger our long trade.
Take note: Factors to be aware of will be movement on the Dollar (DXY), the increasing U.S 10-year Bond yield and the volatility we have seen in the Oil price over the last two weeks can affect the outlook on the S&P 500 index.
Full trade and chart detailed below:
Trade: S&P 500
- Entry (Buy): 2750
- Stop loss: 2710
- Target price 1: 2802
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