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Analysis

S&P 500 Futures Approaching Bearish Head & Shoulders Neckline

Feb 22, 2022

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This  contained Pivot Level assist and resistance ranges/targets for February for the  Index (SPX).

The next weekly chart of the  Index (ES) exhibits that value is within the midst of forming a bearish Head and Shoulders sample.

The sloping neckline on this formation sits round 4200, which is just under February’s SPX S1 assist degree.

Ought to value break beneath that degree, the following ranges of assist are round 3900 and 3600, respectively…just under SPX S2 and S3.

The Stability of Energy remains to be held by the sellers…and can proceed if value breaks and holds beneath 4200.

If not, value will proceed its unstable, directionless whipsaw swings in each instructions inside this typical topping sample.

S&P 500 Futures Weekly Chart

S&P 500 Futures Weekly Chart
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