SPX more downside soon
Updated
SPX remains bearish.
The downsloping resistance line (yellow line) is still acting as a long-term resistance
The price is breaking down from the Rising Broaderning Wedge which is a bearish pattern.
We expect the price to get rejected from the previous support which now should be acting as a resistance.
More downside coming.
Targets shown in the chart.
Good luck
The downsloping resistance line (yellow line) is still acting as a long-term resistance
The price is breaking down from the Rising Broaderning Wedge which is a bearish pattern.
We expect the price to get rejected from the previous support which now should be acting as a resistance.
More downside coming.
Targets shown in the chart.
Good luck
Trade closed: target reached
Price is close to the target 1. We recommend to take profit now
Note
Target 1 reached perfectly and the price bounces. Before reaching Target 2, more bounces expected
Note
As expected, the price bounce continues. Typical bear market rally.Note
bear market rally about to end. Expecting the rejection and downtrend continuation. Be readyNote
SPX is ready to resume the downtrend . Be careful .Trade active
As expected, erfect rejections from the downsloping resistance line. Nothing has changed. Shorting it and waiting patiently for reaching targets!Note
The key trendline is being tested again. If this key resistance breaks, we may see some upside.
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