Key Reads and Essential Support & Resistance Levels
Weekly Compass and Customized S/R Levels
Hello everyone,
The SPX closed the week overbought, suggesting a potential consolidation is coming, and on Friday I posted the chart for XOM with a bullish reversal spirit. Today, Oil Futures are jumping +6.5%, the oscillator suggests a reversal, let’s see if the 5DMA is recovered.
Along with the jump in oil, the ES Futures are declining 0.7% at the moment of sending this post. The consolidation scenario for the SPX was considered in the Weekly Compass; let’s monitor central weekly levels to consider any relevant reversal validation.
In case you missed them, the links for the Weekly Compass and Support and Resistance Levels for this coming week are here. As paid subscribers suggested a set of 70+ stocks to be analyzed with the S/R levels approach, the downloadable Excel file is here.
Weekly Compass: Market Conditions - Setups Blueprint for the Week Ahead
Support and Resistance Levels for the Week of April 20th
Special Study on Unfilled Gaps in the SPX since 1970
Customized Levels Analyzed for Premium Subscribers
The downloadable file is below, along with the daily levels for the SPX, all the magnificent seven, and all the securities we track.
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