S&P 500 IndexShort
H&S - SPX
Updated
Cautious call considering the volatility recently, but it looks like SPX500USD is forming a Head and Shoulder pattern on the 6H.
The overall trend seems to suggest upward movement, but on two separate occasions price has been unable to break out of the historical support from March 2018. Coupled with the H&S pattern I expect a short term test of the local support @ 2491.
The overall trend seems to suggest upward movement, but on two separate occasions price has been unable to break out of the historical support from March 2018. Coupled with the H&S pattern I expect a short term test of the local support @ 2491.
Note
Reference of the fibNote
Note
If 3.87% isn't enough, you could hold for a possible touch of the 0.618 fib level(7% profit from the time of this post)Trade closed: target reached
TP hit this morning
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