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Potential Head and Shoulders in S&P500

I am publishing this idea originally posted by Mr. Pablo Gil – worth considering so I share it with you.

youtube.com/watch?v=15Krsu4mbgQ

The latest price action suggests the potential formation of a right shoulder in a Head & Shoulders pattern.

Currently price is bouncing from 4275 (orange line) toward a target of 4500-4600 (light green lines).

The RSI currently at 38.07 suggests room to move to the upside.

The move to the 4500-4600 range can serve as a necessary bounce to take profits in this and other correlated markets (eg BTCUSD).

If the right shoulder forms, potential move to the downside targets 3792.




Trend Analysis

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