S&P 500 IndexShort
SPX500 Short and subsequent Long Opportunity
In the history price has always respected 200 SMA. Now as we can see price is heading to 200 SMA again. What can we expect ? So I will look for potential short opportunities.
Then we can expect another bounce to the upside from this zone. There are two possible scenarios.
1) Price will break our resistance level and will go up
2) Price will bounce from our resistance to take a breath and then it will break that zone. Why this scenario ? Because if this happens,price will make inversed Head & Shoulders pattern (reversal pattern).
Then we can expect another bounce to the upside from this zone. There are two possible scenarios.
1) Price will break our resistance level and will go up
2) Price will bounce from our resistance to take a breath and then it will break that zone. Why this scenario ? Because if this happens,price will make inversed Head & Shoulders pattern (reversal pattern).
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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.