Daily 50% level and Weekly 50% level is seen as resistance
S&P Weekly and Daily cycles
Tuesday completed the 2-day reversal pattern, so there was an expectation that there could be a 1-day upward move to retest the 50% levels
4 hour support @ 1433 failed to continue up towards those 50% levels, and instead there's a 4 hour close below Wedneasday's lows and also the Weekly lows...
This is going to put pressure on US markets to fall further in the Short-term....
short-term target 1407.50
- Daily Trading Set-ups & Analysis
Posts
