Targets For The Week Of June 1
After multiple tests of the 2850 – 2900 resistance zone, which goes back to September 2018, the SPX finally broke out and finished the last week of May in the Neutral zone:
Market breadth remains neutral, although momentum (blue line) is nearing exhaustion levels. Therefore, it is important to keep an eye on the weekly pivot and target angle (check the TradingView page for price levels and updates):
The longer-term (daily/weekly) technical picture is mostly bullish, with three long and one neutral signal*:
The Oil rebound continues, and higher targets are being printed weekly:
Gold has been trading in a 100 point range for the last two months, and keeps the same weekly targets:
Bitcoin is following a similar pattern, and hasn’t made much progress since halving:
*Please note that the signals are provided for informational purposes only. They are in effect as of the close on Friday and may change as soon as the markets re-open.
For 10Y Treasury and G5 weekly targets and Buy/Sell pivots, check the TV page which gets updated on Monday.
Charts, signals, targets and data courtesy of OddsTrader, CIT for TradingView and NinjaTrader 8
For intraday charts and update follow us on TradingView
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Good targets.