US500 FALLING In the upstream

As I said last time, the price of the index began to fall from the resistance line. However, having broken through the support line 3720.5 and moving under it for some time already at the end of last week, the price was able to rise and return to the aisles of the ascending channel .

This channel has existed since the beginning of November 2020, when there was a false breakdown of the resistance line, the upper border of the channel 3603.3. The second guide line is the support line formed in September 2020.

Despite several false breakouts that the price has made over the past months, it continues to rise in the channel and is now at the reversal line. A few days ago, the price touched this line at 3836.2 and reversed downward. So now I expect the price to continue to fall. So our final target is support line 3764.9.

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