Stay Up to Date with Robin's Market Updates

By providing us your personal data (i.e. name, email address and phone number), you acknowledge and consent to our collection of your personal data for the purposes listed below: • Sending you marketing, advertising or promotional materials related to the content of this website, whether by call, text or email; • Provision of products & services which you have requested for. Please note that you are entitled to withdraw your consent for the collection of your personal data at any point in time by clicking on the "unsubscribe" link in the emails you receive. You may also contact us via robinhosa@phillip.com.sg

Saturday, May 12, 2018

S & P - Breaking Out of the Descending Trendline on the Triangle Pattern is a Bullish Signal! Could it be a false break?

S&P - While breaking  above the ascending triangle pattern is a bullish signal  , but  the similiarity of the 2 trend cycle shown in the chart looks presents the possibility of a false break out. For the short term 2700 remains a good support and 2740 a strong resistance. Whatever the outcome, its better to watch and react to the unfolding price action!

All posts and charts are for educational and illustration purposes only

No comments:

Post a Comment

Note: Only a member of this blog may post a comment.