S&P 500: Key zone - retrace before the next push up?
Good afternoon,
It seems price may be forming a double top here and a short trade could come into play - right now price has reached a key S/R level and I am waiting to see if price will fall from this.
The RSI is currently at around 71% so in oversold territory.
What I potentially see playing out is price retracing down to the ascending trend line before potentially starting a larger move up.
Let me know what you think!
It seems price may be forming a double top here and a short trade could come into play - right now price has reached a key S/R level and I am waiting to see if price will fall from this.
The RSI is currently at around 71% so in oversold territory.
What I potentially see playing out is price retracing down to the ascending trend line before potentially starting a larger move up.
Let me know what you think!
Penafian
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