SPX: Be AWARE of this RESISTANCE AREA! ð
âĒ The SPX is trying to recover this morning, but it has yet to break its major resistance area in order to reverse the bearish sentiment;
âĒ Together, the 21 ema and the green line at 3,911 make a dual-resistance level on the index, and only if it breaks this price area itâll have some chance of reversing;
âĒ Any top sign under this resistance level might indicate a bearish continuation, making a rally to this area just another Dead Cat Bounce;
âĒ The next technical support would be the 3,744 (red line);
âĒ As long as the index remains under the dual-resistance, it wonât be easy for the bulls. Iâll keep you updated on this.
Remember to follow me to keep in touch with my daily analyses!
âĒ Together, the 21 ema and the green line at 3,911 make a dual-resistance level on the index, and only if it breaks this price area itâll have some chance of reversing;
âĒ Any top sign under this resistance level might indicate a bearish continuation, making a rally to this area just another Dead Cat Bounce;
âĒ The next technical support would be the 3,744 (red line);
âĒ As long as the index remains under the dual-resistance, it wonât be easy for the bulls. Iâll keep you updated on this.
Remember to follow me to keep in touch with my daily analyses!
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