$SPY Analysis for the week 7-12 June 21
Weekly chart - uptrend since March 2020 pandemic lows is still intact. Shorter term moving averages still trading above the longer term averages and chart still looking strong.
Daily chart - March 2020 uptrend still holding.
Short term support level is $412 where we find both horizontal as well as uptrend support and 50day ma support.
Resistance level - $423. Above 423 we should see the SPY etf move to monthly pivot R2 at $434-435, and then $442.
Overall picture still very bullish but bulls will need to overcome $423 to push higher this week. Should we see some weakness early in the week then it is important that $412 holds, or else the bears might gain some momentum to move this lower.
Daily chart - March 2020 uptrend still holding.
Short term support level is $412 where we find both horizontal as well as uptrend support and 50day ma support.
Resistance level - $423. Above 423 we should see the SPY etf move to monthly pivot R2 at $434-435, and then $442.
Overall picture still very bullish but bulls will need to overcome $423 to push higher this week. Should we see some weakness early in the week then it is important that $412 holds, or else the bears might gain some momentum to move this lower.
"If you do what you love, you'll never work a day in your life" - Marc Anthony
Wyłączenie odpowiedzialności
Informacje i publikacje przygotowane przez TradingView lub jego użytkowników, prezentowane na tej stronie, nie stanowią rekomendacji ani porad handlowych, inwestycyjnych i finansowych i nie powinny być w ten sposób traktowane ani wykorzystywane. Więcej informacji na ten temat znajdziesz w naszym Regulaminie.