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Large bearish reversal pattern (Wick) takes place last week!

By kimblechartingsolutions
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Courtesy of Chris Kimble.

spxbearishwickatkeyresistancesept19

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A large bearish reversal pattern (bearish wick) took place at (1) last week.

This reversal pattern gains importance at it took place at the underside of channel resistance, at the 50% Fibonacci level of the recent down turn.

For sure….One week a trend does not make for sure.

This is one of the largest bearish reversal wicks in the past 6-years and it took place at a price point, that in time, could become very important!!!

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