Here is our detailed technical review for SPX500USD.
Time Frame: 12h Current Trend: Bearish Sentiment: Overbought (based on 7-period RSI) Forecast: Bearish
The price is testing a key resistance 5,994.0.
Taking into consideration the current market trend & overbought RSI, chances will be high to see a bearish movement to the downside at least to 5,864.5 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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注释
Great beginning for a trade, let’s hope it goes further!