SPX500 ,, UPDATE CHART
Downtrend
Unfortunately, I am not too optimistic about the chart and while it’s inside a downtrend, I will not get any buying position. All the time big bearish or bullish candles have a lot of signs for us.
In the chart you can see several big bearish candles that show the market is not reliable to buy something. Every movement toward up could be a correction in this downtrend.
The next support is about the 5000 and then the area between 4700-4900 will be a very strong zone, hope not goes there.
Unfortunately, I am not too optimistic about the chart and while it’s inside a downtrend, I will not get any buying position. All the time big bearish or bullish candles have a lot of signs for us.
In the chart you can see several big bearish candles that show the market is not reliable to buy something. Every movement toward up could be a correction in this downtrend.
The next support is about the 5000 and then the area between 4700-4900 will be a very strong zone, hope not goes there.
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