Spy 30min

2021년 9월 25일

Yellow line - Resistance since 9/2

Greenline - Previous support since 9/20 but is now currently acting as resistance

White line - Seondary resistance since 9/20 but now acts as support


Close on Friday with a shooting star candlestick after being rejected from yellow and Greenline which has intersected to form stronger resistance.

The Bollinger bands on the 30min haven't been this tight since the start of sept.

On the RSI as well as the chart you can see what could be a H&S forming.

For 🐂If this breaks over 445, that would be a look above all trendlines and I would expect a gap close at 447 to be in play. If the bullish momentum continues from there the next Tp would be at 448.30.

For🐻.: Upon Monday opener, 443 or whiteline will be your first TP. I wouldn't short this below 443 or you could have what you saw on Friday which was a bounce and rally.

If this drops below 443 then the next target is
439.25 gap close. After that 433.
If this does open below 443 , that would be a confirmed H&S


Summary

Short entry - below 443
long entry - above 445