S&P500: Rising Wedge, SIgn of Potential Stock Crash Ahead?
Hello Fellow Global Investor/Trader, Here's a Technical outlook on S&P500!
Chart Perspective
S&P500 rebounded on the bearish trendline. Furthermore, The index has broken out of the rising wedge pattern, indicating a potential bearish bias ahead. The momentum indicator also confirmed the possible bearish bias by forming the death cross. Therefore, we conclude there is possible downside movement to the target area.
All other explanations are presented on the chart.
The roadmap will be invalid after reaching the target/resistance area.
"Disclaimer: The outlook is only for educational purposes, not a recommendation to put a long or short position on the S&P500"
Support the channel by giving us a thumbs up and sharing your opinions in the comment below!
Chart Perspective
S&P500 rebounded on the bearish trendline. Furthermore, The index has broken out of the rising wedge pattern, indicating a potential bearish bias ahead. The momentum indicator also confirmed the possible bearish bias by forming the death cross. Therefore, we conclude there is possible downside movement to the target area.
All other explanations are presented on the chart.
The roadmap will be invalid after reaching the target/resistance area.
"Disclaimer: The outlook is only for educational purposes, not a recommendation to put a long or short position on the S&P500"
Support the channel by giving us a thumbs up and sharing your opinions in the comment below!
Trade active:
Support the channel by giving us a thumbs up and sharing your opinions in the comment below!
Comment:
Hit very near the target area 1!
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