SPX futures are facing resistance at crucial levels of 1283 levels.
As per earlier post about bull phase entry point the index could have been bot on bullish signs on at 4 hour 50 SMA. The index made a new high when the similar setup occurred in early Jan. Post here.
This is the first time when the futures are showing signs of bearishness as it has not given any bullish candle at the critical levels of 1283.
Though the major trend is still bullish but if the lower top gets followed by lower bottom on break of 1267 then the index can be good sell candidate on rise.
As per earlier post about bull phase entry point the index could have been bot on bullish signs on at 4 hour 50 SMA. The index made a new high when the similar setup occurred in early Jan. Post here.
This is the first time when the futures are showing signs of bearishness as it has not given any bullish candle at the critical levels of 1283.
Though the major trend is still bullish but if the lower top gets followed by lower bottom on break of 1267 then the index can be good sell candidate on rise.
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