9.2.17 | SPX | New High if Support Holds
SPX
(Code-Name_Virtue)
Price looks like it could be trading into a strong supply zone, none the less it is trading with the mean of the Upward Moving Channel as support. Price has formed a Rising Wedge chart pattern on the breakout from support of the Upward Moving Channel, we will either see price diverge and rally to the range from the breakout of this bearish pattern or we will see it selloff back to support. If it does selloff price will trade back into strong demand value's.
(Keymaker)
I do not have an E.T.S. for this.
(Code-Name_Virtue)
Price looks like it could be trading into a strong supply zone, none the less it is trading with the mean of the Upward Moving Channel as support. Price has formed a Rising Wedge chart pattern on the breakout from support of the Upward Moving Channel, we will either see price diverge and rally to the range from the breakout of this bearish pattern or we will see it selloff back to support. If it does selloff price will trade back into strong demand value's.
(Keymaker)
I do not have an E.T.S. for this.
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