S&P 500 CMP 6297
Elliott - this is the 5th wave which is the last of the impulse wave. I have divided the 5th wave into its own 5waves. The 1st wave and the 5th wave are generally equal. Hence the current zone becomes a high probability reversal zone.
Trendline - trendline resistance at the same zone makes it a strong resistance.
Oscillator - the oscillators too are at resistance zone which makes this zone a high prob reversal zone.
Elliott - this is the 5th wave which is the last of the impulse wave. I have divided the 5th wave into its own 5waves. The 1st wave and the 5th wave are generally equal. Hence the current zone becomes a high probability reversal zone.
Trendline - trendline resistance at the same zone makes it a strong resistance.
Oscillator - the oscillators too are at resistance zone which makes this zone a high prob reversal zone.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.