The S&P Holds At The 200sma
The S&P 500 has found support following the gap down candle on April 5th.
The 200 simple moving average has been holding price up for three consecutive days.
Price is now forming an unconfirmed bullish flag formation, which will be confirmed
if the recent high from March 29th at $4637 is broken.
The recent move has been bullish from March 14th but price is actually in consolidation
since January 4th.
As there are signs of recent strength and support holding price from declining further,
we are anticipating a continuation of the overall bullish trend over the coming weeks and months.
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The 200 simple moving average has been holding price up for three consecutive days.
Price is now forming an unconfirmed bullish flag formation, which will be confirmed
if the recent high from March 29th at $4637 is broken.
The recent move has been bullish from March 14th but price is actually in consolidation
since January 4th.
As there are signs of recent strength and support holding price from declining further,
we are anticipating a continuation of the overall bullish trend over the coming weeks and months.
If you like enjoyed this post, make sure to like, and follow for more quality content!
If you have any questions or comments, comment below. We reply to every comment!
See below for more information on our trading techniques.
As always, keep it simple, keep it Sublime.
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