S&P500 is trading inside a narrow Channel Up, loosely supported by the 4H MA50 (RSI = 58.828, MACD = 5.720, ADX = 49.301). This pattern implies a rejection within the 4,605 - 4,620 Zone targeting 4,550. We are looking for a buy there or if S1 (4,527.50) breaks then near the 4H MA200 at 4,485 (also a HL trendline). In both instances our target is the R1 (TP = 4,640).
It is important to observe the 4H RSI. The Channel Down's Bearish Divergence can lead it to the S1 Zone, where the stronger buys of June 26th and July 10th occured. This can coincide with the 4H MA200 test.
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It is important to observe the 4H RSI. The Channel Down's Bearish Divergence can lead it to the S1 Zone, where the stronger buys of June 26th and July 10th occured. This can coincide with the 4H MA200 test.
Prior idea:
## If you like our free content follow our profile to get more daily ideas. ##
## Comments and likes are greatly appreciated. ##
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Over 65% accuracy on Private Signals Channel.
Over 15% return monthly on our Account Management Plan.
Account RECOVERY services.
Free Channel: t.me/investingscopeofficial