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ThinkingAnts

"Top and Bottom Analysis" S&P 500 (SPX) by ThinkingAnts

Short
S&P 500 Index (OANDA:SPX500USD)  
ThinkingAnts  
OANDA:SPX500USD   S&P 500 Index
Trend Analysis Support and Resistance Multiple Time Frame Analysis sp500index S&P 500 (SPX500) S&P 500 E-Mini Futures usindex SPX (S&P 500 Index) standardandpoor500
4
0
trendanalysis supportandresistance mtfa sp500index spx500 es1! usindex spx standardandpoor500
4H CHART EXPLANATION

As we explained on the Daily/Weekly Analysis, price is on a Strong Bearish Zone, a confluence of:

-Daily Resistance zone (Possible Triple top).
-Wedge Pattern showing weakness of the Ascending movement.
-Pullback to the broken Daily Ascending Trendline .
-Bearish Divergence MACD .

We expect a Break out of the Ascending Wedge Pattern Below 2855.8 towards 2727.2.
If price makes this confirmation we will be looking for sell setups over the mentioned area, paying atention to the Middle support level betwen those points.

Updates comming soon!


MULTI TIMEFRAME VISION:

- Weekly
snapshot

-Daily
snapshot

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