S&P500 trades in consolidation. What is the next direction?
The S&P500 traded in a range between 3800 region and 3900 region this week.
This week price action played out exactly based on what we mentioned on our previous post that bearish momentum is likely to pause before heading to the 3815 region.
Price rejected the 3915 resistance region before dipping lower. Any breakout confirmation of the 3915 resistance region can potentially indicate more upside movement while any breakout confirmation of the 3815 region can potentially indicate more downside movement.
This week price action played out exactly based on what we mentioned on our previous post that bearish momentum is likely to pause before heading to the 3815 region.
Price rejected the 3915 resistance region before dipping lower. Any breakout confirmation of the 3915 resistance region can potentially indicate more upside movement while any breakout confirmation of the 3815 region can potentially indicate more downside movement.
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