US500: Corrective Rebound

US500, Daily

US500 is in the long-term uptrend and is targeting the 5600 resistance level. The MFI oscillator shows a bearish divergence with the RSI indicating an overbought condition for the asset.

If the price rebounds from the 5450 support level, It may propel the asset to 5600 resistance.
However, if the US500 breaches below the 5450, the price will fall to 5240 level.

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Author: Timur Yurdagyul