US 500Long
S&P500 Do or die moment for the bullish trend.
The S&P500 / US500 is approaching the 1day MA200 (intact since March 24th) and its 1day RSI just become oversold for the first time since September 27th 2022 (exactly 1 year ago!).
That time was the begining of the Bear Cycle's bottom formation.
Additionally, we are at the bottom of the Channel Up pattern that started after the September 2022 bottom, so it is easy to understand that it is now or never if the bullish trend is to be sustained.
Buy on the current market price and target 4820, which is the All Time High of January 2022 and slightly under the 1.618 Fibonacci extension (targeted on prior rally).
This approach is negated if the price closes a 1day candle under the MA200.
Previous chart:
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That time was the begining of the Bear Cycle's bottom formation.
Additionally, we are at the bottom of the Channel Up pattern that started after the September 2022 bottom, so it is easy to understand that it is now or never if the bullish trend is to be sustained.
Buy on the current market price and target 4820, which is the All Time High of January 2022 and slightly under the 1.618 Fibonacci extension (targeted on prior rally).
This approach is negated if the price closes a 1day candle under the MA200.
Previous chart:
Follow us, like the idea and leave a comment below!!
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