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Spxshort

SPX Weekly Rising Wedge + Bear divergenceWelcome back boys and girls, Today, we will be taking a quick look at SPX and how I expect it to behave over the next weeks/months. As you can clearly see, we do have a slow rising wedge, which was recently re-confirmed again after the most recent decline. A rising wedge is a very simple and clear structure, we want to see bearish signs within it, to be sure that it will break down. Taking a look at the RSI, we already see a decline there, this is a very clear and obvious bearish divergence. Looking back, we do see the same bearish divergence structure last year as well, right before the big dump. Will this time be different? I don't think so. Looking at this from a very technical position, not including any fundamentals, I see how SPX would be hitting the green box towards the end of the year, while it might make quick stops at the key-levels on the way there. Let me know what you think in the comments and if there are any fundamentals supporting this. I am a Cryptocurrency Trader and do not follow fundamentals here. Yet, i had to post this, since the technical view is very clear on this one. Leave a like and follow me on twitter! Best regards, TJ
SP:SPXShort
by KongTrading
SPX to climb from upside confirmation, potential bounce! SPX to climb from its upside confirmation at 2951.5 where it could potentially bounce further to 3028.3. *Disclaimer.* Trading leveraged products carries a high level of risk and may result in you losing substantially more than your initial investment. Pepperstone Group Limited is licensed and regulated by the Australian Securities and Investments Commission (AFSL 414530). Pepperstone Limited is authorised and regulated by the United Kingdom Financial Conduct Authority (FRN 684312). This information is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.
TVC:SPXLong
by Pepperstone