$SPY on 1 hour Double Top
SPY on 1 hour Double Top"What Is a Double Top?
A double top is an extremely bearish technical reversal pattern that forms after an asset reaches a high price two consecutive times with a moderate decline between the two highs. It is confirmed once the asset's price falls below a support level equal to the low between the two prior highs."
I charted this yesterday for support and resistance and resistance broke as seen on the chart today.
New levels I will be watching today are:
1st resistance: $396.50
1st support: $393.44
Please note potential reversal headed towards1st resistance of $396.50.
Wait for confirmation. Not financial advice.
What are your thoughts?
Thanks,
Kelly :)
Kelly @angelbaetrades
Instagram: instagram.com/angelbaetrades/
TiKTok: tiktok.com/@angelbaetrades
Instagram: instagram.com/angelbaetrades/
TiKTok: tiktok.com/@angelbaetrades
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