• Oct 2, 2024
  • Trade ideas

US500: The Bearish Momentum

US500, H4

US500H4.png

In the H4 timeframe, the US500 is in the correction after a bullish trend.

The Momentum oscillator shows a bearish divergence with the price and crosses the 100-line down, potentially indicating a bearish move for the asset.

  • If the US500 rebounds from the 5650 support it will rise to 5820 and the 161.8 resistance;
  • However, breaching below the 5650 support may trigger a decline to 5570 and the golden Fibonacci ratio.
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Author: Timur Yurdagyul