$SPX ( S&P500 ) as of November 18, 2020: SPX decreased by 41.74 (-1.16%) points.
SPX made a lower high after a Doji candle. The index retesting the support which is the boundary of the rectangular box marked for the range. If it takes the last swing low(HL) of 3511.91 the current rally will turn into a short-term downtrend. The next dynamic supports are around EMA20 and EMA50 at 3502 and 3437 respectively.
However, the index made a lower high (LH) and a higher low (HL) so technically we are in a consolidation stage.
Happy Trading! @here
SPX made a lower high after a Doji candle. The index retesting the support which is the boundary of the rectangular box marked for the range. If it takes the last swing low(HL) of 3511.91 the current rally will turn into a short-term downtrend. The next dynamic supports are around EMA20 and EMA50 at 3502 and 3437 respectively.
However, the index made a lower high (LH) and a higher low (HL) so technically we are in a consolidation stage.
Happy Trading! @here