BXP has been moving up in a corrective manner, signaling weakening bullish momentum especially with volume drying up.
The price recently reacted from a resistance area, formed an ascending wedge, and touched the upper Bollinger Band. Today, we’ve seen a breakdown from that pattern, which to me confirms a solid entry opportunity to the downside.
Given that I’m expecting a broader market pullback in the SPY, I’ve taken this opportunity to enter a short position on BXP, aligning with my strategy and market outlook.
The price recently reacted from a resistance area, formed an ascending wedge, and touched the upper Bollinger Band. Today, we’ve seen a breakdown from that pattern, which to me confirms a solid entry opportunity to the downside.
Given that I’m expecting a broader market pullback in the SPY, I’ve taken this opportunity to enter a short position on BXP, aligning with my strategy and market outlook.
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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.