• July 8, 2024
  • Trade ideas

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.

Trading foreign currencies on margin involves significant risks and may not be suitable for everyone, as high leverage can increase both potential gains and losses. Before entering the foreign exchange market, it is essential to evaluate your investment goals, personal experience, and risk tolerance.

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Author: Timur Yurdagyul