SP 500 is at important supply demand zone
Updated
Continuous up trend is finally broken at 1st of May and now price is in a demand zone (previous supply). Second good signal I see price is shaping a possible head&shoulders.
On the other hand, in the last hour price shows a rejection, so if demand area will throw the price to north we should wait next visit to the zone for possible breakout. Another thing to watch is that if price will complete this nice h&s pattern.
On the other hand, in the last hour price shows a rejection, so if demand area will throw the price to north we should wait next visit to the zone for possible breakout. Another thing to watch is that if price will complete this nice h&s pattern.
Comment
Head and shoulders pattern is shaped. Today's bar is a test of neckline probably and I would expect it to turn south after that
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