$SPY SUPPLY AND DEMAND ZONES
What's good traders!
Lets take a look at supply and demand zones.
-Price is currently trading below the 20day moving average which is bearish.
-There are 2 demand zones I am watching, the 3hr, and the daily as well as gaps which are marked grey.
- We need strong buyers to show up in those zones for a bounce back up.
-If we break below the 3hr demand zone, we will target the next demand zone, gaps below, and possibly down to the 4hr demand zone.
Let me know what your thoughts are below in the comments!
Thanks for coming!.
-DP.
Lets take a look at supply and demand zones.
-Price is currently trading below the 20day moving average which is bearish.
-There are 2 demand zones I am watching, the 3hr, and the daily as well as gaps which are marked grey.
- We need strong buyers to show up in those zones for a bounce back up.
-If we break below the 3hr demand zone, we will target the next demand zone, gaps below, and possibly down to the 4hr demand zone.
Let me know what your thoughts are below in the comments!
Thanks for coming!.
-DP.
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