Direct from the desk of Dane Williams.
If you've been following the LeoFinance blog, you'd know we've been watching a key SPX daily support/resistance zone.
For a refresher, take a look at the higher time frame chart in the following quote.
You can see that price is back to our daily zone on the updated chart below.
SPX Daily:
While we've been saying that the zone is somewhat subjective, you can see on the updated hourly chart that it's definitely still significant enough to be respected.
SPX Hourly:
That's a nice V-shaped bounce right off the level too, signaling the bulls most definitely have the upper hand here.
So, new all-time highs incoming?
Lol.
Best of probabilities to you,
Dane.
FOREX BROKR | Hive Blog
Higher time frame market analysis.
Posted Using LeoFinance
The bulls are resilient.
Anytime the bears try to get control, they get thwarted.
Dont fight the market. It appears it wants to head higher.
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“The market can remain irrational, longer than you can remain solvent.”
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If I am going against the market, is it the market who is irrational?
Or is it me?
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