S&P500: Channel Up is holding on 4H.

22 нояб. 2023 г.

The S&P500 maintains its steady uptrend since the October 27th bottom, inside a Channel Up pattern. This (on a projected +7.15% 2nd bullish wave) targets above the R3 July 27th High (TP = 4,650). Being however overbought on the 4H technical outlook (RSI = 70.276, MACD = 22.060, ADX = 31.456), we will be ready to short if the price crosses under the 4H MA50 and target the 4H MA200 (TP = 4,400).

See how our prior idea has worked:

## If you like our free content follow our profile to get more daily ideas. ##

## Comments and likes are greatly appreciated. ##