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InvestingScope

S&P500: Sell opportunity within a Channel Down.

Short
S&P 500 Index (OANDA:SPX500USD)  
InvestingScope  
OANDA:SPX500USD   S&P 500 Index
Trend Analysis Chart Patterns Technical Indicators SPX (S&P 500 Index) us500 S&P 500 (SPX500) standardandpoors usstocks usindices
22
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trendanalysis chartpattern indicator spx us500 spx500 standardandpoors usstocks usindices
The index is trading within a Channel Down on the 4H chart (RSI = 47.015, MACD = -76.800, ADX = 46.728). The neutral technical action suggests that we are near a Lower High and that is a short term sell opportunity. So far there have been three bearish legs towards a Lower Low (-12.80%, - 11.15% and -13.20% in succession). Based on that our Target Zone is 2,130 - 2,080.





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