USA500 Analysis dated 22 Apr 16

USA500 H4 Chart
USA500 H4 Chart

Comments: Based on H1 timeframe, rising wedge had broken down. Zooming out to H4 timeframe, potential head and shoulder may be in the midst of formation. It confluence at weekly timeframe supply zone. Overall, bearish bias. Possible course of action: (1) Vertical XSP May 16 210/215 (of minor variation); (2) CFD USD500 or SPX500 for shorting; (3) ES for shorting.

Leave a Reply

Your email address will not be published. Required fields are marked *