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Is the bear rally ending at a 50% retracement?

Discussion in 'Technical Analysis' started by FXStreet_Team, Feb 29, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    Market Overview The last short-term top formed a H&S pattern which gave a projection that was almost filled by the following decline. Although there were some potential lower price projections, they were ignored by the SPX which created a double bottom with the January low of 1812, and started a rally from 1810 that rose 120 points to 1930 before taking a breather. After that, the uptrend continued, creating a pattern which, last week, lent itself to the following speculative forecast: “If

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