US500 Is Going Down! Short!
Updated
Please, check our technical outlook for US500.
Time Frame: 6h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is testing a major horizontal structure 5026.1.
Taking into consideration the structure & trend analysis, I believe that the market will reach 4952.0 level soon.
P.S
Please, note that an oversold/overbought condition can last for a long time, and therefore being oversold/overbought doesn't mean a price rally will come soon, or at all.
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Comment
Great beginning for a trade, let’s hope it goes further!
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