IS A REVERSAL IMMIMENT IN THE SPY
Updated
OBSERVATION ON 24TH JAN
1) Hammer with long Lower wick with High Volume indicates a reversal
2) A t This Level we had a similar bounce back on 19TH JULY '21 . So this bottom has a strong area of support
2) Small Rise in RSI Shows a Bullish Divergence
3) HIstorically an RSI OF 26.3 on the SPY is very rarely seen and is always a great buying opportunity .
1) Hammer with long Lower wick with High Volume indicates a reversal
2) A t This Level we had a similar bounce back on 19TH JULY '21 . So this bottom has a strong area of support
2) Small Rise in RSI Shows a Bullish Divergence
3) HIstorically an RSI OF 26.3 on the SPY is very rarely seen and is always a great buying opportunity .
Note
Strong Resistance 4515 .A good ides to book profits
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