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garold
Jul 23, 2016 7:33 AM

If SPX500 breaks above 2184, expect rally to 2352 FIRST Long

S&P 500 index of US listed sharesFXCM

Description

Wide trading range for SPX500 so long as it's above 2016. Is on the cusp of breaking 2184 and if it manages to break through, expect rally towards 2352 median of range (with minor resistances at 2226, 2268, 2310).

If bulls can take out 2352, 2688 top end of range comes into play but expect heavy selling pressure at 2520.

Bears can only be in control if they can manage to break below 2016.
Comments
garold
Yes, sir ruzgar. Support and resistance levels are defined using homogeneous linear recurrence relation (Fibonacci). en.wikipedia.org/wiki/Recurrence_relation
ruzgar
thanks .
ruzgar
sir hi.these numbers are fibo or something else?
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