SPY - Doji Star Above the Bollinger Band
$SPDR S&P 500 ETF Trust(SPY)$ - Doji Star Above the Bollinger Band
With the RSI in the overbought zone (70+) and the price trading completely above the upper Bollinger Band, a healthy pullback is now due.
The volume shelf, highlighted by the rectangle, is expected to act as a support zone. Its confluence with the 20-day moving average (20DMA) marks it as a logical destination for this pullback, which would be happening in the middle of a bull market.
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