US Indices at resistance

77
S&P 500 CMP 6297

Elliott - this is the 5th wave which is the last of the impulse wave. I have divided the 5th wave into its own 5waves. The 1st wave and the 5th wave are generally equal. Hence the current zone becomes a high probability reversal zone.

Trendline - trendline resistance at the same zone makes it a strong resistance.

Oscillator - the oscillators too are at resistance zone which makes this zone a high prob reversal zone.

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