Two buy zones to monitor before Yellen's testimony
$SPY closed back near important support zone last week.
The PRZ of the blue Bat pattern.
The fact that the price couldn't stay above the Fast SMA line is a bearish signal for $SPY.
If 186-188$ won't hold as support, we might see January's lows being tested and the completion of a smaller Bat pattern near 182$
186-188- First Buy Zone to monitor - Will be relevant if the market will open in green.
182 - Bullish Bat pattern near January's lows
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The PRZ of the blue Bat pattern.
The fact that the price couldn't stay above the Fast SMA line is a bearish signal for $SPY.
If 186-188$ won't hold as support, we might see January's lows being tested and the completion of a smaller Bat pattern near 182$
186-188- First Buy Zone to monitor - Will be relevant if the market will open in green.
182 - Bullish Bat pattern near January's lows
This analysis is part of the Weekly Markets Analysis newsletters
To read more interesting technical reviews for the week- goo.gl/lGNQ8h
To subscribe to the newsletters - goo.gl/JfOLoR
Comment:
Yellow Bat pattern triggered last week's late rally. 188$ will be tested this week
