Daily Chart
The breakout from the rising wedge was confirmed and made decisive with a huge bearish candle which resisted at the support line of the rising wedge.Having broken and closed below the 38.2% retracement level The S&P should test the 50% level at 1435. Holding the neckline at 1428.50 is important for the uptrend.61.8% level is at 1426 so this level should provide good support.
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Lakshmi Ramachandran
www.vipreetsafetrading.com
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