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Stock Markets

21.04.202216:08 Forex Analysis & Reviews: Short-term SPX analysis for April 21, 2022.

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

In previous posts we warned traders that SPX was vulnerable to a move lower towards 4350. Price reached as low as 4369. Price reached the horizontal support from the previous high made in March.

Exchange Rates 21.04.2022 analysis

Green line - horizontal support

SPX is bouncing higher from the horizontal support and our pull back target. SPX has the potential to continue higher above 4640 towards 4900. As long as price is above 4350 we are optimistic that SPX can move higher. Failure to hold above the green support line will be a bearish signal and price could move even lower below 4150.

Alexandros Yfantis
Analytical expert of InstaForex
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