The US100 is showing signs of potential reversal after completing a harmonic ABCD pattern near the wedge resistance. The price has broken below the rising wedge support, indicating bearish momentum.
Bearish Confluences:
1) Completed the ABCD pattern
2) Rsisng Wedge Breakdown
3) Clear Bearish RSI Divergence, showing weakening momentum at highs.
Targets:
TP1: 22180
TP2: 22050
TP3: If the price breaks below 22050, then TP3 will be 21650
Bearish Confluences:
1) Completed the ABCD pattern
2) Rsisng Wedge Breakdown
3) Clear Bearish RSI Divergence, showing weakening momentum at highs.
Targets:
TP1: 22180
TP2: 22050
TP3: If the price breaks below 22050, then TP3 will be 21650
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.