US500, H4
In the H4 timeframe, US500 aims for the 5060 resistance level aligned with the 38.2 Fibonacci ratio. 50-MA adds an extra layer of resistance for the asset. Potential scenarios:
- If the price breaks above the 5060 resistance, it will target the 5150 and golden Fibonacci ratio;
- A rebound from resistance will bring the price back to 4970 support.
Conclusion
In conclusion, trading CFDs carries inherent risks. Success in this field demands effective risk management. To minimize costly errors and capitalize on trading opportunities, it's crucial to conduct thorough due diligence and manage risks diligently.
