The S&P 500 is having an explosive rally after the big drop from February. We could expect a meaningful pullback as we run into some resistance (50MA daily).
Price has been compressed into red trendlines and a breakdown should lead to a pullback. 2852 is resistance, a failure to break this level should bring back sellers
What to watch :
1) Daily closure candle
2) 50MA daily
3) Trendlines
Trade safe :)
Price has been compressed into red trendlines and a breakdown should lead to a pullback. 2852 is resistance, a failure to break this level should bring back sellers
What to watch :
1) Daily closure candle
2) 50MA daily
3) Trendlines
Trade safe :)
Comment:
So far, the price has rejected the 50 MA. Daily closure today could prive a sell signal. Let's see
Comment:
Trendline has been broken, we should see an acceleration of the downward move. First target is 2630 ish.
Comment:
Looks like we rejected the 50 MA for the third time. 2844 is the big test for the bulls, it's a solid wall. We should expect the downfall to come with momentum in the few days. 2844 is the invalidation level