Reversal Structure on SPX futures by ThinkingAntsOk
We have been trying to catch this Bearish Movement since we start observing weakness signals of the Current bullish movement
-We have an ascending channel (solid white lines)
-The price tested 3 times the higher trendline without being able to surpass the zone
-On MACD we can see a huge Divergence
-We can see a second channel (the yellow one) which shows the luck of Bullish momentum, observe the slope of it compared to the white channel.
-Making an analysis of the current situation of SPX we think the China-USA trade war, is about to make no progress, as we saw the same situations going on, in the past. That is aligned with our short Technical view.
-For taking a trade we will wait for a Test of the yellow ascending channel + corrective structure there, if formed we will set our short positions with our main target on the Daily ascending channel of the bullish movement
-We will make a new post if the structure that we are waiting is formed.
-We have an ascending channel (solid white lines)
-The price tested 3 times the higher trendline without being able to surpass the zone
-On MACD we can see a huge Divergence
-We can see a second channel (the yellow one) which shows the luck of Bullish momentum, observe the slope of it compared to the white channel.
-Making an analysis of the current situation of SPX we think the China-USA trade war, is about to make no progress, as we saw the same situations going on, in the past. That is aligned with our short Technical view.
-For taking a trade we will wait for a Test of the yellow ascending channel + corrective structure there, if formed we will set our short positions with our main target on the Daily ascending channel of the bullish movement
-We will make a new post if the structure that we are waiting is formed.
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