Two possible sell zones in GOOGLE
$GOOG is now facing the 570$ resistance zone for the second time. Today, although it was strong in a weak market day, $GOOG failed to breakout of this zone. As long as the price stays below 570$ it presents a shorting opportunity which means 570$ is sell zone 1
Sell Zone 2 is even more interesting as it is both structure and the completion of a bearish Bat pattern
So far, all the SMAs are below the price, providing further support to the price to push forward (today, the Fast SMA played its part as support).
570$ and 585$ are definitely zone you want to put on your charts if you are looking for a bearish trade on $GOOG
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Sell Zone 2 is even more interesting as it is both structure and the completion of a bearish Bat pattern
So far, all the SMAs are below the price, providing further support to the price to push forward (today, the Fast SMA played its part as support).
570$ and 585$ are definitely zone you want to put on your charts if you are looking for a bearish trade on $GOOG
If you liked this analysis, subscribe to the Weekly Markets Analysis newsletter for weekly review of the markets and weekly trading ideas - www.themarketzone.net/