S&P500 Channel Trading

S&P500 Channel Trading

The S&P500 is still trading within the upwards channel but the price is struggling to break through the last high.

The resistance just below the round number $3000 is acting as resistance.

Bears are waiting for a breakout below the channel and the 50-period MA. But as long as the price remains in the channel, a bearish sentiment is not appropriate.

 

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