The SPX has formed a global W pattern, or double bottom, and is currently in the final phase of the formation, which is likely to reach the liquidation zone highlighted in purple.
Current price: $0.6333
If the price breaks the level where the previous peak bottomed, the ascending structure is more likely to be broken, and the movement may continue downward.
Full breakdown on website
Current price: $0.6333
If the price breaks the level where the previous peak bottomed, the ascending structure is more likely to be broken, and the movement may continue downward.
Full breakdown on website
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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.
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.