S&P 500 KEY LEVEL going into the April 20th week. WATCH $285
This $285 level will be a level to watch for the week of April 20th.
We have a clear level which was:
1. The first bounce during the panic selloff caused by the Covid panic.
2. The level was also in play in August, September, and October of 2019 as the support level in a key pattern than sparked the Q4 bull run
3. We have also cleared the 50% mark of the Corona selloff (we are trading above it).
This $285 level should be an inflection point we can look to gain edge around and build a long/short bias around depending on how price action trades in relation to it next week.
I hope this helps the trading community have another perspective on this chart!
xeenos trading
We have a clear level which was:
1. The first bounce during the panic selloff caused by the Covid panic.
2. The level was also in play in August, September, and October of 2019 as the support level in a key pattern than sparked the Q4 bull run
3. We have also cleared the 50% mark of the Corona selloff (we are trading above it).
This $285 level should be an inflection point we can look to gain edge around and build a long/short bias around depending on how price action trades in relation to it next week.
I hope this helps the trading community have another perspective on this chart!
xeenos trading
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