Hi Guys,
The US 500 seems to be in a pretty good position for a pullback/ sell opportunity.
It is currently at the 1.618 retracement and 2.0 retracement of its two previous pullbacks and looks like its finding resistance at the current level.
1 hour RSI is showing divergence and a break of the descending triangle and retest would be good entry with chart or candlestick pattern.
As has been the case for a while now, I will be looking to add a long position at one of the demand zones/ support areas below.
Safe trading all
The US 500 seems to be in a pretty good position for a pullback/ sell opportunity.
It is currently at the 1.618 retracement and 2.0 retracement of its two previous pullbacks and looks like its finding resistance at the current level.
1 hour RSI is showing divergence and a break of the descending triangle and retest would be good entry with chart or candlestick pattern.
As has been the case for a while now, I will be looking to add a long position at one of the demand zones/ support areas below.
Safe trading all
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.
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.