SPX500USD Is Very Bearish! Sell!

14 Apr 2023

Here is our detailed technical review for SPX500USD.

Time Frame: 2h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish

The market is approaching a key horizontal level 4139.3.

Taking into consideration the current market trend & overbought RSI, chances will be high to see a bearish movement to the downside at least to 4112.4 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.

Like and subscribe and comment my ideas if you enjoy them!