SP500 prices are moving near historical resistance at 4810 and at the top of a weekly ascending wedge.
Only a powerful break of 4810 would open the way to a new rise, otherwise a correction is favored below these levels, we will monitor:
- A first support around 4600 pts which could restart the short-term upward trend towards the resistance zone.
- in the event of a break, prices could head towards the bottom of the ascending wedge towards 4400.
If the wedge breaks medium/long term bearish alert
Only a powerful break of 4810 would open the way to a new rise, otherwise a correction is favored below these levels, we will monitor:
- A first support around 4600 pts which could restart the short-term upward trend towards the resistance zone.
- in the event of a break, prices could head towards the bottom of the ascending wedge towards 4400.
If the wedge breaks medium/long term bearish alert