SPX: Be AWARE of this RESISTANCE AREA! 👀
• The SPX is trying to recover this morning, but it has yet to break its major resistance area in order to reverse the bearish sentiment;
• Together, the 21 ema and the green line at 3,911 make a dual-resistance level on the index, and only if it breaks this price area it’ll have some chance of reversing;
• Any top sign under this resistance level might indicate a bearish continuation, making a rally to this area just another Dead Cat Bounce;
• The next technical support would be the 3,744 (red line);
• As long as the index remains under the dual-resistance, it won’t be easy for the bulls. I’ll keep you updated on this.
Remember to follow me to keep in touch with my daily analyses!
• Together, the 21 ema and the green line at 3,911 make a dual-resistance level on the index, and only if it breaks this price area it’ll have some chance of reversing;
• Any top sign under this resistance level might indicate a bearish continuation, making a rally to this area just another Dead Cat Bounce;
• The next technical support would be the 3,744 (red line);
• As long as the index remains under the dual-resistance, it won’t be easy for the bulls. I’ll keep you updated on this.
Remember to follow me to keep in touch with my daily analyses!
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