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TheCryptagon

S&P500 Rising Wedge is forming a bottom. Bullish.

Long
US 500 (CAPITALCOM:US500)  
TheCryptagon  
CAPITALCOM:US500   US 500
Trend Analysis Chart Patterns Technical Indicators SPX (S&P 500 Index) us500 S&P 500 E-Mini Futures standardandpoors
35
10
trendanalysis chartpattern indicator spx us500 es1! standardandpoors
S&P500 / US500 is trading sideways as it attempts to form a bottom on the Rising Support of the Rising Wedge pattern.

The 4hour RSI rebounded from the oversold territory as on the August 18th bottom.

Every Higher High on the Wedge's top was a Fibonacci 1.618 extension from the previous one.

Buy now and target 4598 (Resistance B), which is slightly under the next Fibonacci 1.618 extension.

Previous chart:

DOW JONES Resistance breakouts can lead as high as 35500

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