Friday 16 December 2022

S&P500 Index futures pulling back after hitting Cloud Chart resistance. Downside risk to CC support zones of 3886/3839 & 3809!

 S&P500 Index futures pulling back after hitting Cloud Chart resistance. Downside risk to CC support zones of 3886/3839 & 3809!




The bottom end of the front CC support zone is a key level for a potential rebound. If price action moves below this level the outlook will change from bullish to bearish on the daily CC. Critical week ahead!

On the weekly CC we can see how significant the resistance zone is at the bottom end of the cloud!

S&P500 failed to break past the cloud! Outlook remains bearish long-term on the weekly Cloud Chart!





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