S&P 500 Probing Below 1900 as Selling Pressure Mounts

S&P 500 Probing Below 1900 as Selling Pressure Mounts

9 August 2014, 09:31
Volya
Volya
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Prices declined as expected after putting in a bearish Evening Star candlestick pattern with negative RSI divergence. A break below the 38.2% Fibonacci retracement at 1921.80 has exposed the 50% level at 1900.30. Moving further below that eyes the 61.8% Fib at 1878.70. Alternatively, a reversal back above 1921.80 opens the door for a test of the 23.6% retracement at 1948.40.


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