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SPX500 SHORT SETUP H1 BEFORE FED RATES

Short
S&P 500 Index (OANDA:SPX500USD)  
Forex48_TradingAcademy  
OANDA:SPX500USD   S&P 500 Index
Trend Analysis Technical Indicators Fundamental Analysis S&P 500 (SPX500) setup short education signals service indicies Supply Zone
2
0
trendanalysis indicator fundamental spx500 setup short education signals service indicies supplyzone
The price is currently in a bearish moment at the level of 4270, with a potential bounce zone around 4284, which corresponds to the 50% Fibonacci retracement level and a high-volume trading area. The objective of the short trade is to target 4220, where we have the 61% Fibonacci retracement level with high volumes and a demand zone for support before potentially dropping further to touch 4187. A descent is expected in anticipation of the Fed's interest rate hike next week.

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