bigrediska

Pay attention to the "bear flag" that is being realized.

Short
AMEX:SPY   SPDR S&P 500 ETF TRUST
We have all seen the price move further and further away from the upper line of the Bollinger Bands in recent months. It was removed until it formed the "Head and Shoulders" pattern. But in order for it to begin to be realized, we needed an additional one. The "bearish flag" became it. Now, nothing prevents the price from falling to the depths of the original pattern. And our first target will be located here. We will place the second target near the nearest support level. The lower line of the Bollinger bands is also located there, which confirms our assumption.
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.