SP500 deciding moment
We created a weekly supply zone by breaking weekly structure to the downside.
We have mitigated only mitigated about 40% of this zone, so we could see a push higher before a collapse.
We have liquidity being built at at 4137 level, which might get taken after we have a change of character to the upside (BOS).
However if we do not hold the demand zone at this level we could trigger a proper market meltdown.
If we break 4100 we could see a retest of the 4458 supply zone before continuing lower.
We have mitigated only mitigated about 40% of this zone, so we could see a push higher before a collapse.
We have liquidity being built at at 4137 level, which might get taken after we have a change of character to the upside (BOS).
However if we do not hold the demand zone at this level we could trigger a proper market meltdown.
If we break 4100 we could see a retest of the 4458 supply zone before continuing lower.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.