SPX Triple Top Formation Near Resistance|Rising Wedge Breakdown

SPX is currently trading inside a rising wedge/channel after a strong impulsive rally from the $0.36 region. However, the structure is now showing clear signs of exhaustion near resistance.

One major bearish signal here is the formation of a potential triple top around the $0.437-$0.441 region. Price has tested this area multiple times but failed to break through decisively, showing weakening bullish momentum.

Additional bearish confluences:
• Rising wedge/channel structure
• Repeated rejection near upper resistance
• Momentum slowing despite higher highs
• Lower trendline support is becoming weaker after multiple retests

Historically, triple tops inside rising wedges often lead to aggressive downside moves once support breaks.

Trade Setup:
• Short zone: $0.428 - $0.437
• Stoploss: Above $0.4417

Targets:
→ $0.4067
→ $0.3922
→ Final target: $0.3670

A clean breakdown below the lower trendline could trigger long liquidation pressure and accelerate the dump toward lower support zones.

Current structure favors caution on longs unless bulls reclaim the resistance with strong volume confirmation.

NFA | DYOR