The S&P500 crossed under the 4H MA100 today and is forming a Head and Shoulders pattern on extremly bearish 4H technicals (RSI = 37.236, MACD = -4.910, ADX = 58.125).
This is a sell signal especially if the price rebounds now and gets one last rejection on the 4H MA50. A similar pattern formed the February High. We are targeting S1 initially (TP1 = 4,050) and if the index closes under the 1D MA50 (red line), extend selling to S2 (TP2 = 3,925).
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This is a sell signal especially if the price rebounds now and gets one last rejection on the 4H MA50. A similar pattern formed the February High. We are targeting S1 initially (TP1 = 4,050) and if the index closes under the 1D MA50 (red line), extend selling to S2 (TP2 = 3,925).
Prior idea:
## If you like our free content follow our profile to get more daily ideas. ##
## Comments and likes are greatly appreciated. ##
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Over 65% accuracy on Private Signals Channel.
Over 15% return monthly on our Account Management Plan.
Account RECOVERY services.
Free Channel: t.me/investingscopeofficial