🗽🕛US500 📈🤔🤓⚙️ On the weekly timeframe, the US500 breaches below the trendline and faces the crucial 5780 support level. The 200-MA provides an additional layer of support for the asset.

🗽🕛US500 📈🤔🤓⚙️ On the weekly timeframe, the US500 breaches below the trendline and faces the crucial 5780 support level. The 200-MA provides an additional layer of support for the asset.

🗽🕛US500

⚙️ On the weekly timeframe, the US500 breaches below the trendline and faces the crucial 5780 support level. The 200-MA provides an additional layer of support for the asset.

📉 The RSI leaves the overbought zone, and the MFI shows multiple bearish divergences in the Weekly timeframe. Bearish Engulfing candlestick patterns have also formed on the chart, which led to severe corrections in the US500 in previous cycles.

Goldman Analysts predict that US500 has entered an intense correction phase, citing that the concentration of the largest stocks in the SP500 has now reached levels similar to the Great Depression bubble in the US.

submitted by /u/Yuriy_UK
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