SPY BEARISH BIAS RIGHT NOW| SHORT
SPY is trending down which is evident from the red colour of the previous weekly candle. However, the price has locally surged into the overbought territory. Which can be told from its proximity to the BB upper band. Which presents a beautiful trend following opportunity for a short trade from the resistance line above towards the demand level of 523.11.
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I stand by my prediction and my idea is confirmed by the fact that the pair is moving towards the target!
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