SPX500: Resistance Holds, We Watch for Shorts
Looking at the 240min chart of SPX500 we have right in front of us a very strong resistance level which already seems to be working with a price drop. Price has broken below the median line of the upsloping median line set and pulled back for a retest. At the same level it meets previous structure and the 50%fib retracement of a previous downtrend.
Overall we are in a bearish context and looking for a sell signal is all we should do in the upcoming trading week
Overall we are in a bearish context and looking for a sell signal is all we should do in the upcoming trading week
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