If we look at the 4-hour chart, the S&P500 index looks:
1.The price has dropped out of its Bullish Pitchfork channel.
2. There are deviations between price movements and the CCI indicator.
3. The appearance of the Bearish 123 pattern is followed by the Bearish Ross Hook.
So based on the 3 things above, it can be concluded that in the near future #SPX will try to break below the Bearish Ross Hook level at 3963.49. If this level is successfully broken, then #SPX still has the potential to fall to the level of 3931.08 but please pay attention too because price movements are still above and stuck at the 100 MA if there is an upward correction past the 4059.42 level then it is very likely that the decline scenario described earlier will become invalid.
Relevance up to 04:00 2022-12-16 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
