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laterrasanta

SP500 REVERSAL FORMATION

Long
S&P 500 Index (SP:SPX)  
laterrasanta  
SP:SPX   S&P 500 Index
AB=CD Parallel Channel Moving Averages SPX (S&P 500 Index)
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abcdpattern parallelchannel movingaverage spx
There is an AB=CD pattern that targets the channel lower band.

Also, EMA 200 coincides the lower band.

These two arguments renders the channel lower band a strong support which makes me think that this can be a reversal level.
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