themarketzone
Short

Bearish trading scenario for the week - Trend lines analysis

FX:SPX500   S&P 500 Index
SPX             formed a weekly Outside Bar last week.
It was rejected by a trend line and the Fast weekly MA line.
The price is currently also below a weekly uptrend line but still above a minor support zone .

2155- 2160 is a weekly resistance zone .
2120 is a weekly resistance zone .
Potential Target for this bearish scenario is 2080-2100.
The price will meet a broken trend line and the 50 weeks MA line support - Strong weekly support zone .

You can read the full SPX             analysis in this week's newsletters (see link in signature)

Trade closed: target reached
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