The ascending trend line has been broken out to the downside and price has been fallen sharply.
Price got rejected by the demand zone (1) and started to rise and it is approaching to a supply level which is also a resistance level either.
IF price could not close a bullish candle above the supply level, I expect a continuation of the bearish movement and price may fall to one of the next demand levels (2 or 3).
IF price dropped to one of the mentioned demand levels and there was any upside push by the bulls at those levels, we might see a rise in price in the future.
What do you think about US500? Feel free to share your ideas in the comments 🤗🙏🏻