orvilleawright

SPX500 (4H) is coiling into a wedge pattern

FX:SPX500   S&P 500 index of US listed shares
SPX500             (4H) is coiling into a wedge pattern the centre of the consolidation is around the 216x zone. Both the 20 and the 50 SMA have flattened. The price action seems rather balanced. It should however be noted that the last dominant move was a swing low. There is immediate resistance at the 217x zone and immediate support at the 214x zone.
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