SPX500: Resistance Holds, We Watch for Shorts
Looking at the 240min chart of SPX500 we have right in front of us a very strong resistance level which already seems to be working with a price drop. Price has broken below the median line of the upsloping median line set and pulled back for a retest. At the same level it meets previous structure and the 50%fib retracement of a previous downtrend.
Overall we are in a bearish context and looking for a sell signal is all we should do in the upcoming trading week
Overall we are in a bearish context and looking for a sell signal is all we should do in the upcoming trading week
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.