Us500 falling to support line

The price has been moving in a global upward trend starting this fall. At the same time, its movement corrects two strong lines - support and resistance. The price made the last major breakdown of the trend in October, falling behind the support line, but returned back within a few weeks.

For the last month, the price moves exactly between the lines without making strong breakouts. It is important to note that the lines are narrowing and may even cross at some point. This affects the amplitude of price fluctuations - it becomes less and less.

Just recently, the price bounced off the support line 3696.3 and rose to the resistance line. For the last week, the price continues to move along this line with minimal pullbacks. After the last rollback, she again returned to resistance - let me remind you that this was the first step towards the goal from my previous forecast - and is now ready to fall.

I expect the price to reverse in a downtrend from the resistance line 3698.5. And during it it will come to the support line 3645.2.


Traders, if you liked this idea or have your opinion on it, write in the comments. I will be glad👩‍💻