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Weekly Trade Idea: US500-S&P500
US500
, 1DLong
US500: Weekly Trade Idea: US500-S&P500

Rising Parallel Channel- First Resistance: 4520 - Main Resistance:4550

Welcome to Downtrend
US500
, 1DShort
US500: Welcome to Downtrend

It is clearly broke the rising parallel channel, a head and shoulders pattern appeared on the top of the chart and a new falling parallel channel is creating below the previous channel. It makes sense to sell the highs in this falling channel.

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