SPY is nearing an important trend line. Observe how price behaves near this trend line. This may be a potential area of resistance.
Here are the scenarios:
1) Price tags the trend line, reverses and forms a new lower high on 30 min. (Bullish constructive action)
2) Price tags the trend line, reverses, sellers jump in aggressively and we get a retest of the lows.
Here are the scenarios:
1) Price tags the trend line, reverses and forms a new lower high on 30 min. (Bullish constructive action)
2) Price tags the trend line, reverses, sellers jump in aggressively and we get a retest of the lows.
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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.