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Amazinghong

Strong Rejection on Resistance Level

Short
S&P 500 Index (OANDA:SPX500USD)  
Amazinghong  
OANDA:SPX500USD   S&P 500 Index
S&P 500 (SPX500)
4
0
spx500
Price wave off from its high after an early rally. With bear trap on current price setup, it will be interesting to see whether daily 20MA can hold the sell off.

If 20MA daily support unable to hold the sell off presure, selling momentum will drive the price to 50MA daily price area which is 2405 to 2412 area.
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