Further to my previous idea on SPX.
SPX respected the Resistance at FR 161.8 at 6400.
Price went down and reverted form SMA200 (4H)
Now price has completed the Perfect Gartley Pattern and reached point D.
If (against fundamentals) price reverts down from there and breaks down through SMA50 (4h), I will consider it as Bearish Validation and I will expect correction movement, which cen go down to ca 6000.
Just my humble opinion
SPX respected the Resistance at FR 161.8 at 6400.
Price went down and reverted form SMA200 (4H)
Now price has completed the Perfect Gartley Pattern and reached point D.
If (against fundamentals) price reverts down from there and breaks down through SMA50 (4h), I will consider it as Bearish Validation and I will expect correction movement, which cen go down to ca 6000.
Just my humble opinion
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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.