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Dollar Tests Resistance as S&P 500 Builds Bearish Chart Setup

From dailyfx.com

The US Dollar finds itself at key resistance as the S&P 500 positioning continues to build the case for a significant bearish reversal ahead. S&P 500 – Prices completed a bearish Evening Doji Star candlestick pattern at the top of a Rising Wedge chart formation, hinting a move lower is ahead. Initial support lines up at 1363.90, with a break below that exposing the 1334.40-41.90 area. A daily close beneath the latter boundary will confirm the larger Wedge setup, opening the door for a larger reversal. Wedge top resistance is now at 1381.30, with a break above that exposing 1392.10. CRUDE OIL – Prices are showing ... (full story)

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