S&P 500 (SPX) clear bearish divergence. Easy SHORT!
Updated
SPXS&P500 is now very close to its ATH (~2940), the price is currently at 2795 and will suffer a strong rejection in the coming days, MACD and RSI demonstrate very clear bearish divergence that will certainly push the price back to the 2640 (0.382 fib) or even 2580 (0.5 fib).
It is an operation that has a great risk-to-reward, with 1:5 on the first target and 1:7.5 on the second target.
It is not necessary to have a very complex chart to understand this situation, with divergences of this size the chance of the price to breakup such an important resistance are minimal!
In the next few days the 20MA should cross below the 200MA confirming the expectation of the fall and directing the price to the stipulated targets!
I could cite several other external reasons to confirm my analysis, but I believe the information presented by itself is enough.
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God bless.
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NEW SPX SIGNAL#SPX #S&P500
Sell-Short: 2795-2796
Target:
1st: 2640
2nd: 2580
SL: 2827
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SPX started going down as expected!Trade active
Following perfectly as predicted
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