"Top and Bottom Analysis" S&P 500 (SPX) by ThinkingAnts
4H CHART EXPLANATION
As we explained on the Daily/Weekly Analysis, price is on a Strong Bearish Zone, a confluence of:
-Daily Resistance zone (Possible Triple top).
-Wedge Pattern showing weakness of the Ascending movement.
-Pullback to the broken Daily Ascending Trendline .
-Bearish Divergence MACD .
We expect a Break out of the Ascending Wedge Pattern Below 2855.8 towards 2727.2.
If price makes this confirmation we will be looking for sell setups over the mentioned area, paying atention to the Middle support level betwen those points.
Updates comming soon!
MULTI TIMEFRAME VISION:
- Weekly
-Daily
As we explained on the Daily/Weekly Analysis, price is on a Strong Bearish Zone, a confluence of:
-Daily Resistance zone (Possible Triple top).
-Wedge Pattern showing weakness of the Ascending movement.
-Pullback to the broken Daily Ascending Trendline .
-Bearish Divergence MACD .
We expect a Break out of the Ascending Wedge Pattern Below 2855.8 towards 2727.2.
If price makes this confirmation we will be looking for sell setups over the mentioned area, paying atention to the Middle support level betwen those points.
Updates comming soon!
MULTI TIMEFRAME VISION:
- Weekly
-Daily
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