SPX500 Testing Key Resistance
21 Jan 2015 17:53, GMTTalking 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
---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.