SPX500USD Will Fall! Short!

Please, check our technical outlook for SPX500USD.

Time Frame: 5h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish

The market is approaching a key horizontal level 4792.3.

Considering the today's price action, probabilities will be high to see a movement to 4745.2.

P.S
The term oversold refers to a condition where an asset has traded lower in price and has the potential for a price bounce.
Overbought refers to market scenarios where the instrument is traded considerably higher than its fair value. Overvaluation is caused by market sentiments when there is positive news.

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

تعليق:

Great beginning for a trade, let’s hope it goes further!