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TheAnonymousBanker

SP500: Consolidation in Short Term?

Short
S&P 500 Index (OANDA:SPX500USD)  
TheAnonymousBanker Updated   
OANDA:SPX500USD   S&P 500 Index
Trend Analysis Harmonic Patterns Chart Patterns sp500index SPX (S&P 500 Index) sp500analysis usindices nasdaq harmonictraders harmonicpattren trendanalyisis wallstreet
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trendanalysis harmonicpatterns chartpattern sp500index spx sp500analysis usindices nasdaq harmonictraders harmonicpattren trendanalyisis wallstreet
Hi Traders!
Medium and Long-Term Trends are bullish, but in short term SP500 could remain bearish even after a pullback. If we look at daily chart, the Price Action is approaching an important support area around 4,305, if from here it triggers a bullish leg, it's possible a harmonic structure formation (for us, bearish). Having said that, we have a first Target Area around 4,275 and subsequently 4,220.

Trade with care
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Comment:
📊 Support Area:
snapshot
Comment:
📊 Perfect reaction on our 4,304.6 support:
snapshot
Comment:
🔴 Limited rebound
Trade closed: target reached:
✅ Target 1 hit:
snapshot
Comment:
📊 Now, our support area on the daily chart has become our resistance area:
snapshot
Trade closed: target reached:
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Analysis made with 💝
By Anonymous Banker
A TradingView Fan since 2015
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