$spx at a cross road - Weekly chart Sell
Bears going crazy two weeks ago, then bulls going crazy last week.. We meet again at the cross road of multiple confluence point..
1. We are at the 61% fib level from the drop
2. We are ON the Upper channel from 2016 .
3.We are retesting the broken uptrend line .
4.MACD and RSI is turning on weekly .
The Risk Reward is very high for the Sell side.
I will wait for the 4 hourly chart to break the recent Uptrend before selling.
This sell will be invalidated if we break and close above the cross road.
1. We are at the 61% fib level from the drop
2. We are ON the Upper channel from 2016 .
3.We are retesting the broken uptrend line .
4.MACD and RSI is turning on weekly .
The Risk Reward is very high for the Sell side.
I will wait for the 4 hourly chart to break the recent Uptrend before selling.
This sell will be invalidated if we break and close above the cross road.
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