S&P 500 (SPXUSD) - Bearish wedge
Good morning,
Chart allowed us to mark a Bearish wedge as trend continuation pattern. Although even if price will brake the pattern we should look very closely on the price move around MA100 and local support zone. For safety reason I would recommend opening positions in the correctional movement after firm break-out. MACD indicatior is not giving us a 100% sure reversal signal but histogram is significantly falling. The First target should be on the previous lows from 2018-02-09 and second target should be around second zone and main trend line which can be a significant point for the S&P 500 index.
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Remember that's only my point of view and every investment you do is fully on your risk!
Chart allowed us to mark a Bearish wedge as trend continuation pattern. Although even if price will brake the pattern we should look very closely on the price move around MA100 and local support zone. For safety reason I would recommend opening positions in the correctional movement after firm break-out. MACD indicatior is not giving us a 100% sure reversal signal but histogram is significantly falling. The First target should be on the previous lows from 2018-02-09 and second target should be around second zone and main trend line which can be a significant point for the S&P 500 index.
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Remember that's only my point of view and every investment you do is fully on your risk!
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