SPX is within a rising wedge structure that has been getting weaker on each high. The 1hour RSI has a pivot line though above which the trend remains bullish but below turns bearish.
So far it is above and it is evident as the price is holding the wedge's bottom and is rebounding.
4040 the upper target if it holds. 3942, which is the first support, if it breaks where it can catch the 1hour MA200.
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So far it is above and it is evident as the price is holding the wedge's bottom and is rebounding.
4040 the upper target if it holds. 3942, which is the first support, if it breaks where it can catch the 1hour MA200.
Follow us, like the idea and leave a comment below!!
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