SPX500USD Will Move Lower! Sell!

٢٦ يونيو ٢٠٢٣

Please, check our technical outlook for SPX500USD.

Time Frame: 12h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish

The market is testing a major horizontal structure 4355.9.

Taking into consideration the structure & trend analysis, I believe that the market will reach 4278.1 level soon.

P.S
We determine oversold/overbought condition with RSI indicator.
When it drops below 30 - the market is considered to be oversold.
When it bounces above 70 - the market is considered to be overbought.

Like and subscribe and comment my ideas if you enjoy them!