SPX500 (4H) is coiling into a wedge pattern
SPX500 (4H) is coiling into a wedge pattern the centre of the consolidation is around the 216x zone. Both the 20 and the 50 SMA have flattened. The price action seems rather balanced. It should however be noted that the last dominant move was a swing low. There is immediate resistance at the 217x zone and immediate support at the 214x zone.
I may trade all, some or none of the ideas posted. All of my contributions are for educational purposes only. 'TRADE What You SEE'' and all the best!
Related publications
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.