$US500 S&P500 - will the .236 retrace hold? DAWEI
The shenanigans around the situation in the ukraine continue, as the market has thrown another tantrum over it yesterday.
We got rejected once more by the supply line that defines the current downtrend we currently in.
If the .236 Retrace at 4360 can't be hold as support, we almost certainly to go back down to the january lows, and with that double top pattern and overall lower highs, those january lows, might not hold, and markets would be poised for another leg down.
Proceed with caution atm, cause every little rallye seems to be sold off the next day, we clearly have not seen a reversal to bullish structures again.
Good luck with your trading!
We got rejected once more by the supply line that defines the current downtrend we currently in.
If the .236 Retrace at 4360 can't be hold as support, we almost certainly to go back down to the january lows, and with that double top pattern and overall lower highs, those january lows, might not hold, and markets would be poised for another leg down.
Proceed with caution atm, cause every little rallye seems to be sold off the next day, we clearly have not seen a reversal to bullish structures again.
Good luck with your trading!
Hallo und herzlich Willkommen bei 10xTrading -
Dein Kanal, rund ums Thema Charttechnik !
Dein Kanal, rund ums Thema Charttechnik !
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