InvestingScope

S&P500: Trade the break-out of the Rising Wedge.

OANDA:SPX500USD   S&P 500 Index
The index is trading within a Rising Wedge pattern on the 4H chart ( RSI = 65.584, MACD = 10.000, ADX = 30.906) and has reached the point of exhaustion. With the 4H MA50 supporting, it is more probable to see an upward break-out. In any case trade the direction of whichever break-out takes place first: bullish TP = 3,407 and 3,429 while bearish TP = 3,367 and 3,339.50.



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Comments

well done, great technical summary it is!
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