SPX500 price rejection at prior Week Median
Here, I offer a look at using the prior time frame Median as a means of bullish or bearish sentiment/trend.
The indicator plots PRIOR Daily, Weekly and Monthly Medians.
Currently, this week, we have Bearish Cross of the short term Daily Median below the prior Week Median give us an obvious bearish formation. Conversely, possible value in longer term view for Bulls.
Price has been rejected from the prior Weekly Median as we see an ascending wedge being formed. Point of exhaustion/explosion to play out very soon.
The indicator plots PRIOR Daily, Weekly and Monthly Medians.
Currently, this week, we have Bearish Cross of the short term Daily Median below the prior Week Median give us an obvious bearish formation. Conversely, possible value in longer term view for Bulls.
Price has been rejected from the prior Weekly Median as we see an ascending wedge being formed. Point of exhaustion/explosion to play out very soon.
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