US500-S&P 500 (GSPC, INX, SPX)
, 4 hours
short
#Technical
#Bearish
Resistance 1 | 5147.11 |
---|---|
Quote Price | 5022.22 |
Support 1 | 4947.98 |
Support 2 | 4846.50 |
On the 4 hour chart, we can see that from a risk management perspective, the sellers will have a much better risk to reward setup around the trendline where they will also find the confluence of the red 21 moving average and the 61.8% Fibonacci retracement level. The buyers, on the other hand, will want to see the price breaking higher to invalidate the bearish setup and position for a rally into a new all-time high
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