S&P500: Channel Down dominant but target this if it breaks out.
The S&P500 is inside a Channel Down on the 4H chart ever since the correction started early in February. A correction that has caused even the 1D time-frame to turn bearish technically (RSI = 41.649, MACD = -7.180, ADX = 42.487).
As long as the price remains below the 4H MA50, it is aiming as S2 (TP = 3,900). However with the 4H RSI inside a Channel Up (bullish divergence), if the price crosses over the Channel Down and more importantly the 4H MA200, we will go long aiming at the 0.786 Fibonacci (TP = 4,140).
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As long as the price remains below the 4H MA50, it is aiming as S2 (TP = 3,900). However with the 4H RSI inside a Channel Up (bullish divergence), if the price crosses over the Channel Down and more importantly the 4H MA200, we will go long aiming at the 0.786 Fibonacci (TP = 4,140).
## If you like our free content follow our profile to get more daily ideas. ##
## Comments and likes are greatly appreciated. ##
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investingscope.com
Over 65% accuracy on Private Signals Channel.
Over 15% return monthly on our Account Management Plan.
Account RECOVERY services.
Free Channel: t.me/investingscopeofficial
investingscope.com
Over 65% accuracy on Private Signals Channel.
Over 15% return monthly on our Account Management Plan.
Account RECOVERY services.
Free Channel: t.me/investingscopeofficial
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.