Technical analysis of S&P stocks in 4 hours; 2023-02-12

Deltafx Admin 13 February 2023

The S&P stock has created a harmonic pattern in its downtrend movement after breaking the trend line with a higher slope in the higher time frame.

Currently, facing a resistance level from the previous movements and in the range of 4136.85, three ranges are expected before the range of 3898.11 in the following areas:

1-4045.50

2-3996.74

3-3935.98

However, it is not necessary for the process to achieve all of the above goals. On the other hand, the price moves towards the trend line with a lower slope.

In case of unexpected performance, the ceiling of the previous pattern in the range of 4320.08 is considered an important range.

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