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S&P 500 Index
Short

S&P entering a potential reversal zone

By VasilyTrader
Updated
snapshot

hey traders,

let me share with you my thoughts about s&p:

first of all, on 4h chart we see a weakening bullish momentum
snapshot

formation of a rising wedge on 1h charts more strongly indicates bulls exhaustion

also, on 4h chart looking left we can find that the market is really close to very significant structure levels.
the range between these levels is called a potential reversal zone.
snapshot

what we are doing now, as the market is entering a potential reversal zone, we are looking for a confirmation.
here it will be bearish violation of a rising wedge, however, some reversal patterns may also appear.

be patient and wait for additional signals!

good luck!
Note
some bullish continuation
Note
entering a potential reversal zone
Supply and DemandSupport and ResistanceWedge
VasilyTrader
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