S&P500

By Mariya Markova

Trading Instruments

, 4 hours

short

#Technical

#Reversal

Range

Resistance 1 4550
Quote Price 4472
Support 1 4430

On the 4 hour chart, we can see that the S&P 500 broke below a key support zone, retested it and continued lower. The price action though has been choppy, and the bearish momentum has been weakening as we can see from the divergence with the MACD. We are also getting closer to the trendline, so this might be a sign that the market may turn around soon, especially if we get a positive catalyst.