Price revisited the down channel midline 1900-1920 area finishing the week just above. If the analog continues price would need to continue its bounce up to the 2000-2020 zone. Note: this would be between the 50 and 62 fibonacci levels measured from the May high to the selloff low.
If price makes the pivot higher I will be closely watching for RSI to break and hold above its current down trendline.
market-observer.rhcloud.com/2015/09/06/case-study/update-sp500-points-to-ponder-2011-and-2015-selloffs-and-bounce/
If price makes the pivot higher I will be closely watching for RSI to break and hold above its current down trendline.
market-observer.rhcloud.com/2015/09/06/case-study/update-sp500-points-to-ponder-2011-and-2015-selloffs-and-bounce/
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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.