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
We recommend to take profit now
Comment:
As expected, the price bounce continues. Typical bear market rally.
Comment:
bear market rally about to end. Expecting the rejection and downtrend continuation. Be ready
Comment:
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!
Comment:
The key trendline is being tested again. If this key resistance breaks, we may see some upside.
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Before reaching Target 2, more bounces expected