In the USA, the SPX bounced strongly off the 61.8% fib line at 1295.
That's a level which saw bounces on February 24 and the April low on April 18, at 1 and 2 on the chart.
Notice the similar candles on these three occasions.
There's also positive divergence on the RSI.
All this to me suggests a bounce.
spott's - fade the false break - tuesday, page-17
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Last
8,394.2 |
Change
94.000(1.13%) |
Mkt cap ! n/a | |||
| Open | High | Low |
| 8,300.2 | 8,402.2 | 8,300.2 |
| XJO (ASX) Chart |