US500: The Bearish Momentum

US500, H4

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.

Trading foreign currencies on margin involves significant risks and may not be suitable for everyone, as high leverage can increase both potential gains and losses. Before entering the foreign exchange market, it is essential to evaluate your investment goals, personal experience, and risk tolerance.

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Author: Timur Yurdagyul

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