S&P 500 Wave Analysis – 26 May, 2020
May 26, 2020 @ 16:59 +03:00
• S&P 500 broke resistance area
• Likely to rise to 3100.00
S&P 500 under bullish pressure after the earlier breakout of the resistance area lying between the key resistance level 2950,00 and the 61,8% Fibonacci correction of the previous sharp downward impulse (C) from the middle of February.
The breakout of this resistance area should accelerate the active multi-month upward impulse sequence (3).
S&P 500 is likely to rise further toward the next resistance level 3100.00 (top of the earlier short-term correction 2 from the start of March).