US 500 time to Death or Life
US 500 is in a critical condition, where if it loses the supports it can still go down a lot.
Let's analyze the main scenarios:
Bearish Market:
The blue diagonal is the main support where if it breaks down, the price will drop towards the average 200 (blue) and then towards the support $ 3400 - $ 3200 or the top pre covid crisis of 2020.
Bullish Market:
The price bounces on the blue diagonal (the first support) or on the 200 average forming a rising low and then starts again and breaks the red diagonal as a technical resistance and a downtrend line to look for new highs and (perhaps) formalize the end of the bearish trend.
We with LPI believe that the market is in a bearish trend and that until the red diagonal is broken we do not recommend any trading.
LPI, Grow with us.
Let's analyze the main scenarios:
Bearish Market:
The blue diagonal is the main support where if it breaks down, the price will drop towards the average 200 (blue) and then towards the support $ 3400 - $ 3200 or the top pre covid crisis of 2020.
Bullish Market:
The price bounces on the blue diagonal (the first support) or on the 200 average forming a rising low and then starts again and breaks the red diagonal as a technical resistance and a downtrend line to look for new highs and (perhaps) formalize the end of the bearish trend.
We with LPI believe that the market is in a bearish trend and that until the red diagonal is broken we do not recommend any trading.
LPI, Grow with us.
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