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EliteTradingSignals

SPY SHORT FROM RESISTANCE

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SPDR S&P 500 ETF TRUST (AMEX:SPY)  
EliteTradingSignals  
AMEX:SPY   SPDR S&P 500 ETF TRUST
Trend Analysis Chart Patterns Wave Analysis SPDR S&P 500 ETF (SPY) short SELL trading Bearish Patterns Forex forecast tecnhicalanalysis Contains image
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trendanalysis chartpattern waveanalysis spy short sell trading bearish forex forecast tecnhicalanalysis containsimage
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Hello,Friends!

SPY is trending down which is evident from the red colour of the previous weekly candle. However, the price has locally surged into the overbought territory. Which can be told from its proximity to the BB upper band. Which presents a great trend following opportunity for a short trade from the resistance line above towards the demand level of 404.44.

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