The S&P500 index / US500 broke and closed over the 1day MA50 on Friday, for the first time in almost 2 months.
Even though it is a major long term bullish development, we see a short term sell opportunity as the 1day RSI is reversing, signalling a loss of strength on the 5 day rally.
The long term pattern remains a Bearish Megaphone, so such minor technical correction is justified.
Sell and target 4270 (Fibonacci 0.382, a level always reached inside the Megaphone's corrections).
Follow us, like the idea and leave a comment below!!
Even though it is a major long term bullish development, we see a short term sell opportunity as the 1day RSI is reversing, signalling a loss of strength on the 5 day rally.
The long term pattern remains a Bearish Megaphone, so such minor technical correction is justified.
Sell and target 4270 (Fibonacci 0.382, a level always reached inside the Megaphone's corrections).
Follow us, like the idea and leave a comment below!!
TheCryptagon offers news & insights on global markets (crypto, forex, stocks, commodities). Follow so you don't miss anything!
🤑Message us for private forex & crypto signals in our VIP channel (70% accuracy)!💰
TELEGRAM: t.me/thecryptagon
🤑Message us for private forex & crypto signals in our VIP channel (70% accuracy)!💰
TELEGRAM: t.me/thecryptagon
免責聲明
這些資訊和出版物並不意味著也不構成TradingView提供或認可的金融、投資、交易或其他類型的意見或建議。請在使用條款閱讀更多資訊。
TheCryptagon offers news & insights on global markets (crypto, forex, stocks, commodities). Follow so you don't miss anything!
🤑Message us for private forex & crypto signals in our VIP channel (70% accuracy)!💰
TELEGRAM: t.me/thecryptagon
🤑Message us for private forex & crypto signals in our VIP channel (70% accuracy)!💰
TELEGRAM: t.me/thecryptagon
免責聲明
這些資訊和出版物並不意味著也不構成TradingView提供或認可的金融、投資、交易或其他類型的意見或建議。請在使用條款閱讀更多資訊。