23.01.202318:07 Forex Analysis & Reviews: SPX bullish scenarios

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Blue lines- Fibonacci extension targets

Violet lines- Fibonacci retracement levels

SPX is trading again above $4,000 as price has managed in two trading sessions to eradicate recent losses in SPX. Price made a high at 4,015 and then pulled back towards 3,900 and the 50% Fibonacci retracement. Price formed a higher low and is ready to break above recent highs to provide a new bullish signal. First upside target is found at 4041, if 4,015 is broken. 2nd target is the 100% Fibonacci extension target at 4,140.

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