OMX 30 – Approaching ATH + Top Of Multi-Year Range (Weekly chart)

Chris Capre 2ndskiesforex

Price Action Context

After selling off heavily during Q4 last year like most indices, the Swedish stock index has recovered most of the ground lost and is now approaching it’s ATH again which also is the top and key resistance of a multi-year range which has led to many strong bearish rejections in the past.

Trending Analysis

Neutral bias and bears can look for potential shorting opportunities around the multi-year resistance.

Key Support & Resistance Zones

R: 1 655 – 1 720
S: 1 240 – 1 300

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Author

Chris Capre

2ndskiesforex

Chris Capre is a professional forex trader and mentor specialized in Price Action trading, and the Ichimoku Cloud.

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