SPX: bears preparing for 78.6% rejection
Telah dikemas kini
Hello traders,
Looking at the weekly chart for SPX, we are starting to see some macro-bearish sentiment:
1) Orange trend line overhead resistance
2) Historically, we are constantly seeing 78.6% Fibonacci level rejection (end of 2018 and beginning of 2018)
Unless there are series of bullish news, bears are most likely placing short orders in red box region given the very thick wall of resistance.
Manage your risks. The market is getting very dangerous and desperately looking for overdue weekly consolidation.
Looking at the weekly chart for SPX, we are starting to see some macro-bearish sentiment:
1) Orange trend line overhead resistance
2) Historically, we are constantly seeing 78.6% Fibonacci level rejection (end of 2018 and beginning of 2018)
Unless there are series of bullish news, bears are most likely placing short orders in red box region given the very thick wall of resistance.
Manage your risks. The market is getting very dangerous and desperately looking for overdue weekly consolidation.
Nota
Pretty much a double top at this point. Bulls are starting to lose fuel as there are no bullish news.
Short
Nota
SPX is approaching dangerously close to 78.6% fibonacci level (~3130). Let's see how China retaliate after ban on Chinese Airline to US.Nota
SPX500US touched 78.6% and and rejected. potential head and shoulders pattern is forming.Nota
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.