Massive Dark Cloud Cover Pattern Above Critical Support - Will It Hold?
Research Highlights….
- A Dark Cloud Cover pattern is a Japanese Candlestick Pattern that is typically associated with major top setups.
- Critical Support on the SPY highlighted by multiple technical analysis strategies suggests 335~335.25 is acting as a major support level.
- If price stays below the $339.95 level, then we interpret the trend as being Bearish. If price moves above the $343.55 level, it is Bullish.
Critical Support on the SPY (SPDR S&P500 ETF) highlighted by multiple technical analysis strategies suggests 335 – 335.25 is acting as a major support level. The rally in the markets that started late Sunday and carried forward into early trading on Monday, September 28, 2020, suggests the market is attempting to rally above this support level to establish a potential momentum base.
Source: http://crudeoiltrader.blogspot.com/2020/10/massive-dark-cloud-cover-pattern-above.html
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