S&P 500 forms Bullish Bat pattern, good to buy at dips
Harmonic Pattern formed – Bullish Bat pattern
Potential Reversal Zone (PRZ) – 1900
The index has made a low of 1912 and slightly recovered from that level. Short term trend is lighty bullish as long as support 1900 holds.
Any break below 1900 will drag the index down till 1870/1850.
Overall bullish invalidation only below 1800.
On the higher side minor resistance is around 1925 and break above will take the index till 1937/1946.
It is good to buy at dips around 1910-15 with SL around 1900 for the TP of 1937/1945
Potential Reversal Zone (PRZ) – 1900
The index has made a low of 1912 and slightly recovered from that level. Short term trend is lighty bullish as long as support 1900 holds.
Any break below 1900 will drag the index down till 1870/1850.
Overall bullish invalidation only below 1800.
On the higher side minor resistance is around 1925 and break above will take the index till 1937/1946.
It is good to buy at dips around 1910-15 with SL around 1900 for the TP of 1937/1945