Bear wedge broken o SPY / SPX /ES target 2340 and Dec 18, 2019 l
Wedge held perfectly. Went and touched the top shortly before US open.
Went through bottom channel and then appears to be retesting bottom channel line.
Latter best seen on candle stick chart.
So expect Monday for trend to continue down
Target is 2340, which coincidentally is Dec 18, 2019 low!
If Market goes back up it should reverse it will meet both bear hourly channel AND long term channel resistance at 2738.
Went through bottom channel and then appears to be retesting bottom channel line.
Latter best seen on candle stick chart.
So expect Monday for trend to continue down
Target is 2340, which coincidentally is Dec 18, 2019 low!
If Market goes back up it should reverse it will meet both bear hourly channel AND long term channel resistance at 2738.
Trade active
Correction: Upside to 2538
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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.