SPX Is Bearish! Short!

26 Eyl

Take a look at our analysis for SPX.

Time Frame: 1D
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish

The market is trading around a solid horizontal structure 5,722.39.

The above observations make me that the market will inevitably achieve 5,432.48 level.

P.S
The term oversold refers to a condition where an asset has traded lower in price and has the potential for a price bounce.

Overbought refers to market scenarios where the instrument is traded considerably higher than its fair value. Overvaluation is caused by market sentiments when there is positive news.

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27 Eyl

Not

Great beginning for a trade, let’s hope it goes further!