S&P500 Rising Wedge is forming a bottom. Bullish.

٨ سبتمبر ٢٠٢٣

S&P500 / US500 is trading sideways as it attempts to form a bottom on the Rising Support of the Rising Wedge pattern.

The 4hour RSI rebounded from the oversold territory as on the August 18th bottom.

Every Higher High on the Wedge's top was a Fibonacci 1.618 extension from the previous one.

Buy now and target 4598 (Resistance B), which is slightly under the next Fibonacci 1.618 extension.

Previous chart:

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