Short
Potential Head and Shoulders in S&P500
I am publishing this idea originally posted by Mr. Pablo Gil – worth considering so I share it with you.
youtube.com/watch?v=15Krsu4mbgQ
The latest price action suggests the potential formation of a right shoulder in a Head & Shoulders pattern.
Currently price is bouncing from 4275 (orange line) toward a target of 4500-4600 (light green lines).
The RSI currently at 38.07 suggests room to move to the upside.
The move to the 4500-4600 range can serve as a necessary bounce to take profits in this and other correlated markets (eg BTCUSD).
If the right shoulder forms, potential move to the downside targets 3792.
youtube.com/watch?v=15Krsu4mbgQ
The latest price action suggests the potential formation of a right shoulder in a Head & Shoulders pattern.
Currently price is bouncing from 4275 (orange line) toward a target of 4500-4600 (light green lines).
The RSI currently at 38.07 suggests room to move to the upside.
The move to the 4500-4600 range can serve as a necessary bounce to take profits in this and other correlated markets (eg BTCUSD).
If the right shoulder forms, potential move to the downside targets 3792.
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