SPX is breaking the triangle
SPX is breaking above the triangle 3550 resistance. This is now a confirmed break for the higher probability of the long trade entries. A rejection here and a break below 3550 is required for the upside invalidation. The overall medium-term is an uptrend but we need to see a confirmed break above 3700 to see extension higher to 4000. The instrument has broken above the congestion triangle and will probably test 3700 in the coming sessions.
Note – We are inclined to long trade entries with the stop loss below 3550
If you want to learn trading analysis and how to get to key trading levels like in this article register for Private Live mentoring with your trading evaluation.
