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Long Term Price Action For SPX500 And USOIL 23/12/2018

long term price action spx500 23-12

As we can see, both SPX500 And USOIL are in a strong bearish momentum for the long terms, last week was the worst week for the SPX500 Index since 2008.

SPX – the SPX500 index has just developed a bearish momentum that we can even on the weekly chart, the supply above can a great continuation level of this bearish momentum, if the price will return that supply I’ll sell there, the long-term target will be 2200.00 zones.

USOIL – Same as the SPX500 the USOIL is also bearish for the long terms, if we look for a good reason for the price to stop this bearish momentum, I cannot find any reason for that until the price will reach the support zone below, I’ll wait for the price at the supply above, and if the price will hit that supply i”ll sell there and my target will be the support below.

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