Sp500 path and direction
Hello everyone
Sp500 started a uptrend channel in April however in SEP we broke this uptrend channel but
SP500 found support on the blue trend line and price went back to test the previous Uptrend channel
Price respected the uptrend channel resulting a doji candle that means the previous channel is acting as resistance now
Or price could get back into the channel
Or we could chop in this zone between blue trend line and previous uptrend channel
However any close below this blue trend line we are heading to demand zone below and also to test the purple broken downtrend line
feel free to ask me anything :) and good luck
Sp500 started a uptrend channel in April however in SEP we broke this uptrend channel but
SP500 found support on the blue trend line and price went back to test the previous Uptrend channel
Price respected the uptrend channel resulting a doji candle that means the previous channel is acting as resistance now
Or price could get back into the channel
Or we could chop in this zone between blue trend line and previous uptrend channel
However any close below this blue trend line we are heading to demand zone below and also to test the purple broken downtrend line
feel free to ask me anything :) and good luck
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