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SPX500 Testing Key Resistance

SPX500 Testing Key Resistance

Paul Robinson, Strategist

Talking Points:

  • Testing key trend-line off 12/29 high
  • Head-and-shoulders scenario still remains in play
  • Bias remains tilted down under 2050

S&P 500 is moving higher today, testing a downtrend line from December. The previously mentioned head-and-shoulders topping formation is still in the cards. Bias will become neutral on a move over 2050.

SPX500 4-hr: Nov ’14 Present

SPX500 Testing Key Resistance

---Written by Paul Robinson, DailyFX Research

To contact Paul, you can email him at instructor@dailyfx.com

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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