Will SPX500 Beat Another Historic Records Anytime Soon?

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We see the continuation of a long increase in prices within the yellow channel. More precisely, the price channel describes the green channel. Not so long ago, the price pushed off its lower bound after which growth continued.

It is possible that at the moment we see an upward movement in the direction of the upper wall of the yellow channel and the resistance level of 3223.

However, in the case of a small decline and a break of the green support line and the level of 3105, the decline may continue towards the lower bound of the yellow channel and the nearest support level of 2974.

The approximate scheme of possible future movement is indicated on the chart.


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