Really clear, simple structure on SP here.
We have an ascending trendline with a resistance area turned support giving us clear reasons for entering and bullish bias.
Ideal buys would be around 3440 on the retest of the resistance and third trendline touch before a retest of the previous highs and the -23.6% fib extension for a nice 1:5 RR!
Bearish bias only valid underneath the broken trendline and support to retest the 61.8% fib area and key 3300 level.
We have an ascending trendline with a resistance area turned support giving us clear reasons for entering and bullish bias.
Ideal buys would be around 3440 on the retest of the resistance and third trendline touch before a retest of the previous highs and the -23.6% fib extension for a nice 1:5 RR!
Bearish bias only valid underneath the broken trendline and support to retest the 61.8% fib area and key 3300 level.