S&P500 / SPX is trading inside a Falling Wedge since the November 19th low and today hit the pattern's bottom.
This has coincided with the 4hour RSI hitting the 30.00 oversold limit.
Every time this has take place, the price rebounded to at least its 0.786 Fibonacci and the 4hour MA200.
This time the 0.786 Fib is very close to the top of the Falling Wedge but we can technically target the 4hour MA200 a little lower at 5950.
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This has coincided with the 4hour RSI hitting the 30.00 oversold limit.
Every time this has take place, the price rebounded to at least its 0.786 Fibonacci and the 4hour MA200.
This time the 0.786 Fib is very close to the top of the Falling Wedge but we can technically target the 4hour MA200 a little lower at 5950.
Follow us, like the idea and leave a comment below!!
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Institutional services offered:
💰 Daily consulting
💰 Account management
💰 Mentorship
Contact: t.me/thecryptagon | info@thecryptagon.com
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thecryptagon.com covers news & insights on global markets (crypto, forex, stocks, commodities)
Institutional services offered:
💰 Daily consulting
💰 Account management
💰 Mentorship
Contact: t.me/thecryptagon | info@thecryptagon.com
Institutional services offered:
💰 Daily consulting
💰 Account management
💰 Mentorship
Contact: t.me/thecryptagon | info@thecryptagon.com
Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.