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Title
S&P500 potential for bearish drop towards intermediate support
Type
Bearish Drop
Preference:
Looking at the H4 chart, my overall bias for S&P500 is bearish due to the current price being below the Ichimoku cloud, indicating a bearish market.
Looking for an immediate entry at the pivot. The resistance is where the overlap resistance level is. The support is the intermediate support.
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Desmond Leong runs an award-winning research firm (The Technical Analyst finalists 2018/19/20 for Best FX and Equity Research) advising banks, brokers and hedge funds. Backed by a team of CFA, CMT, CFTe accredited traders, he takes on the market daily using a combination of technical and fundamental analysis.