Last night, after the Fed maintaining rates, together with the seemingly worsening coronavirus outbreak, the S&P500 appears to have all it needs to trigger a down slide.
Technicals advocate this bearish outlook as the gap failed to close with a lower high formed, a breakdown of the trendline support, deteriorating MACD, and a OBV crossdown. All these align with...
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You can sell SP 500 AUDNZD from 3290-3300
Stop-loss at 3340
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Drop started from 3000's and now on 2971. RSI, Parabolic SAR, Moving Average most of the main indicators are supporting the drop.
First target will be 2962 and if it breaks that support, next target would be 2939. In case of an upturn in chart, we should check if it can break 2974.
