SPX: 28.04.2017, D1
Pin bar under the horizontal resistance of the previous high of 2400.
Test of the breakaway under two diagonal resistances - negative signal.
Fundamental: Today is Friday and after the heightened positivism during the week, we can expect some profits to be taken, which will lead to a draw down. Negative for the market is the another failure in the announcement of the details of the proposed tax reform. The geopolitical tensions and the upcoming second poll of the French elections are more likely to cause some cautions among the investors.
SL: 2410.00
Alternative scenario: We must be wary, as a breakaway above the key level of 2400 is likely to lead to short-term purchases and increase in the price of the gauge.
Trader Nikolay Georgiev
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