FxWirePro: S&P500 forms Bearish..

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FxWirePro: S&P500 forms Bearish..
« เมื่อ: ?Զع?¹14, 2017, 03:24:51 PM »

FxWirePro: S&P500 forms Bearish CD pattern, good to sell on rallies

14 June 2017, 11:21



•Harmonic pattern – Bearish AB=CD pattern.
 
•Potential Reversal Zone (PRZ) – 2445.
 
•S&P500 is consolidating in narrow range between 2445 and 2404 for the past ten trading session. It is currently trading around 2440.
 
•In the daily chart the index has formed potential Bearish AB=CD pattern and got completed at 2445.Any break above potential reversal zone will take the S&P500 till 2457 (161.8% retracement of 2401 and 2321).
 
•On the lower side, major support is around 2396 (daily Kijun-Sen) and any break below will drag the index till 2367 (89 EMA)/2345 (May 18th 2017 low).

It is good to sell on rallies around 2440-2445 with SL around 2457 for the TP of 2390/2359.