S&P500 / US500 tested this week its 1week MA50 successfully as the price almost touched it and rebounded.
We have seen this kind of behavior in the last 9-12 months before a Bull Cycle tops.
In fact with the 1week RSI trending downwards on a bearish divergence, today's price action looks more similar to the October 13 2014 1week MA50 fakeout, which was breached marginally but rebounded immediately.
Based on that, a 6500 Cycle Top target by October 2025 is very much realistic.
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We have seen this kind of behavior in the last 9-12 months before a Bull Cycle tops.
In fact with the 1week RSI trending downwards on a bearish divergence, today's price action looks more similar to the October 13 2014 1week MA50 fakeout, which was breached marginally but rebounded immediately.
Based on that, a 6500 Cycle Top target by October 2025 is very much realistic.
Follow us, like the idea and leave a comment below!!
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TheCryptagon offers news & insights on global markets (crypto, forex, stocks, commodities). Follow so you don't miss anything!
🤑Message us for private forex & crypto signals in our VIP channel (70% accuracy)!💰
TELEGRAM: t.me/thecryptagon
🤑Message us for private forex & crypto signals in our VIP channel (70% accuracy)!💰
TELEGRAM: t.me/thecryptagon
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.