$SPY Bearish Scenario Targeting 303 by 1st Week of March!
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As discussed week earlier, signal of bearish trend had been confirmed after last Friday closing and confirmed by yesterday closing at 321.75 after falling to 320.8 . RSI dropped out from overbought limits to 49 and broken down the trend also MFI keep decline and could be dropped hard on Monday .. SPY almost corrected 5% from the top. Weekly indicators showing selling just started so with Bearish candlesticks suggest further decline for 3-4 weeks . If Monday dropped hard with volume and break down 319 then should target 309 and 303 by 1st week of March . Also possible to see some bounce after closing 1st gap 319 and in case of bounce 326 will be the target if break it up then cancel this idea. This pattern suggest good bullish trend after these corrections but early to discuss . check original idea for further details. thanks
Trade chiuso: obiettivo raggiunto
Trade chiuso: obiettivo raggiunto
Trade chiuso: obiettivo raggiunto
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