We see a continuation of the S&P 500 bearish rising wedge pattern highlighted on our analysis on the 15.04. The RSI of the index has fallen from 69.3 to 68.9 and trading volumes are slightly decreasing indicating that upward momentum could be slowing. We will wait to see if prices fall below the lower bearish rising wedge trend line under $2860 before confirming the downward movement.
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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.