More bearish movement coming on S&P500 Futures?
Main items we can see on the chart:
A) The price reverse after reaching the all-time high zone and the weekly channel (purple lines)
B) After the first sell-off coming from the tech sector, we can see a corrective structure (yellow lines)
C) Monday started with a strong bearish movement creating new lower lows on the zone
D) Currently we can see a pullback (retest of the broken level)
E) IF the price does not reach the invalidation level, we expect a continuation of the bearish movement towards the 2950 - 3000 support zone
G) We expect the descending channel to be the main structure of the bearish movement
A) The price reverse after reaching the all-time high zone and the weekly channel (purple lines)
B) After the first sell-off coming from the tech sector, we can see a corrective structure (yellow lines)
C) Monday started with a strong bearish movement creating new lower lows on the zone
D) Currently we can see a pullback (retest of the broken level)
E) IF the price does not reach the invalidation level, we expect a continuation of the bearish movement towards the 2950 - 3000 support zone
G) We expect the descending channel to be the main structure of the bearish movement