S&P 500 index chart shows multiple bearish signals on the weekly time frame
1. The price has hit the upside of the long-term uptrend and it was rejected
2. Bearish Reversal Evening Star Candlestick pattern appeared on the top
3. RSI has built the Bearish Divergence as it did not confirm the new peak
There are 3 support levels:
1. Double support of trend channel's mid-line and previous top around $6,147
2. Bottom of the channel between $5,300 and $5,400
3. "Die-hard" multiple support that was built since 2021 around $4,819
What are your thoughts?
1. The price has hit the upside of the long-term uptrend and it was rejected
2. Bearish Reversal Evening Star Candlestick pattern appeared on the top
3. RSI has built the Bearish Divergence as it did not confirm the new peak
There are 3 support levels:
1. Double support of trend channel's mid-line and previous top around $6,147
2. Bottom of the channel between $5,300 and $5,400
3. "Die-hard" multiple support that was built since 2021 around $4,819
What are your thoughts?
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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.