SPDR S&P 500 ETF TRUSTUpdated GER40 possible Long
It looks like Ger40 might be forming an inverted Head & Shoulders pattern on the weekly chart, which could potentially indicate a rise in price.
The resistance Trendline was recently broken and retested, and we're now waiting for the neckline to be broken to gain momentum towards the upside.
It's important to keep in mind that we'll want to see the candle close above the neckline for confirmation.
To avoid any potential losses, it's best to wait until the candles have closed before making any moves.
Additionally, there's a small gap to fill between $420 and $421 that could be worth keeping an eye on.
The resistance Trendline was recently broken and retested, and we're now waiting for the neckline to be broken to gain momentum towards the upside.
It's important to keep in mind that we'll want to see the candle close above the neckline for confirmation.
To avoid any potential losses, it's best to wait until the candles have closed before making any moves.
Additionally, there's a small gap to fill between $420 and $421 that could be worth keeping an eye on.
Note
The market is currently at the neckline of an inverted head and shoulders pattern. It is preferable to observe a breakout to the upside and a potential retest before considering continuation.Note
Now we are back above the neckline. that could be the possible breakout to the upside. Lets wait for confirmation.
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.