$SPY on 1 hour Double Top

25 בינו׳ 2023

SPY on 1 hour Double Top

"What Is a Double Top?
A double top is an extremely bearish technical reversal pattern that forms after an asset reaches a high price two consecutive times with a moderate decline between the two highs. It is confirmed once the asset's price falls below a support level equal to the low between the two prior highs."

I charted this yesterday for support and resistance and resistance broke as seen on the chart today.
New levels I will be watching today are:
1st resistance: $396.50
1st support: $393.44

Please note potential reversal headed towards1st resistance of $396.50.
Wait for confirmation. Not financial advice.


What are your thoughts?
Thanks,
Kelly :)