Recap: 1. Weekly RSI 30
2. Weekly bullish engulfing
3. S&P successfully defended oct 2022 trendline
Now: Monthly hammer candle
Next potential scenario: 20500 level could be the neckline/resistance level for a inverse head and shoulder, coinciding with the 20 weekly SMA as of now.
Next probable scenario: Expecting May monthly candle to be a continuation green candle.
Watch out december 2022 trendline acting as resistance
2. Weekly bullish engulfing
3. S&P successfully defended oct 2022 trendline
Now: Monthly hammer candle
Next potential scenario: 20500 level could be the neckline/resistance level for a inverse head and shoulder, coinciding with the 20 weekly SMA as of now.
Next probable scenario: Expecting May monthly candle to be a continuation green candle.
Watch out december 2022 trendline acting as resistance
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.