SPX more downside soon

١٦ سبتمبر ٢٠٢٢

SPX remains bearish.
The downsloping resistance line (yellow line) is still acting as a long-term resistance
The price is breaking down from the Rising Broaderning Wedge which is a bearish pattern.

We expect the price to get rejected from the previous support which now should be acting as a resistance.

More downside coming.
Targets shown in the chart.

Good luck

٢٧ سبتمبر ٢٠٢٢

أغلقت الصفقة: تم الوصول للهدف

Price is close to the target 1.
We recommend to take profit now

٤ أكتوبر ٢٠٢٢

ملاحظة

Target 1 reached perfectly and the price bounces.
Before reaching Target 2, more bounces expected

٢٦ أكتوبر ٢٠٢٢

ملاحظة

As expected, the price bounce continues. Typical bear market rally.

١٦ نوفمبر ٢٠٢٢

ملاحظة

bear market rally about to end. Expecting the rejection and downtrend continuation. Be ready

٢٠ نوفمبر ٢٠٢٢

ملاحظة

SPX is ready to resume the downtrend . Be careful .

١٦ ديسمبر ٢٠٢٢

تم فتح الصفقة

As expected, erfect rejections from the downsloping resistance line. Nothing has changed. Shorting it and waiting patiently for reaching targets!

٢٤ يناير ٢٠٢٣

ملاحظة

The key trendline is being tested again. If this key resistance breaks, we may see some upside.