Trade Idea for SP 500 Index (#SP500)

SP 500 Index

#SP500

    The trend is bearish. On the H1 and M30 timeframes, the index is trading within the range of the 365 and 135 EMAs. The truncated bullish wave structure has completed with a breakout of the ascending channel. The Awesome Oscillator shows bearish divergence, while the Stochastic Oscillator signals overbought conditions.

Trading idea:

Sell on a breakout below 6838.9.

Stop Loss – 6847.6.

Target levels – 6830.0; 6773.3.