SP500 ! Negative background. The price is preparing to decline

7 apr 2022

The index forms a fairly long god range between the prices of 4537 and 4289. The borders are worked out quite well. The price tried to rewrite the resistance of the range, but the resistance level 4595 formed above did not allow it.
The macroeconomic situation on the market is not very good, I think.
Picture of technical analysis: a false breakdown of resistance was made and the price returned to the range. At the moment, local support was tested, there is no strong rollback and the index is forming a pre-breakout trade. I expect a decline against the backdrop of the overall picture. The first target is the level 4388, the second target is the lower boundary of the sideways range - support 4289

Sincerely, R. Linda

22 apr 2022

Trade chiuso: obiettivo raggiunto