InvestingScope

Bearish Reversal on S&P

Short
CME:SP1!   None
Mirror Channel Down pattern developing on 1D as 2,741 has been priced as the latest Lower High (ADX = 21.036) on the current 2018 bear cycle. 4H has already initiated its Channel Down (Highs/Lows = -10.9821, BBP = -14.4680) with only MACD = 8.280 supporting from further downtrend. Expected targets are the supports (2,697.60 and 2,680.50 the most immediate).

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