I'm looking at the S&P 500 coming down during the next few months. Its been in an upward range and approaching key technical short levels. When it down break down from this upwards channel, I would look for a profit target at that dotted price line, which so far have not been retested. Keeping in mind that being long term short requires tight stop losses and...
Gold has been in a symmetrical triangle since the end of May. On August 6th it broke the support line and spiked down to the previous low and has now gone back up to do a retest putting it in neutral territory with rising momentum
An update on the chart I posted earlier this week. As you can see it broke down from that range and then retested it. At this point it will either bounce around in that range again, or travel back down, bust through the 161 Fib, and head to the purple consolidation range.
As you can see the Nasdaq has been in an uptrend that’s been the support of a rising wedge since May 19th. On August 10th it broke to the downside and quickly retested what is now the support that is now acting as resistance. In doing so it has created a 200 point range that might bring it down to the 161 Fib level. If it were to break that, look for it to...
Two reasons to be hesitant about going long at this point. The first being that its been in a rising wedge since mid May, hitting that top resistance several times now towards the tip. Additionally, its in the 161 and 188 fib area from two different regions, the first being February to March, and the second being the April to May area.
As far as potential price...
