SPX500USD 2021 Jan 06 Midweek Update

SPX500USD

SPX500USD 2021 Jan 06 Midweek

Price creeping up over the holiday season on lower volume.
Bar B is weak, going up on low volume, and next bar had a lower close, confirming this weakness.

Lower prices is not a surprise, except when it will happen. And this happened on 4 Jan.
And it tested Bar A, a previous demand area.

Notice that Bar C closed off its low, showing demand has come in.

Subsequent bars has maintained prices above its low, presenting buy opportunities.

TP range can be 30 - 50% between zones

Resistant3 = 3824
Resistant3 = 3799
Resistant2 = 3774.5 - 3784.5

Support1 = 3660 - 3670
Support2 = 3608 - 3623

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