US500, H2
In the H2 timeframe, US500 targets the crucial 5060 support zone aligned with the 38.2 Fibonacci ratio. A bearish divergence on the RSI oscillator suggests a bearish sentiment. Potential scenarios:
• Failure to breach below the support zone may drive the asset to 5150 and the golden Fibonacci ratio.
• Conversely, breaking below 5060 support could indicate a bearish momentum, leading to a decline toward 4960.
Conclusion
In conclusion, trading CFDs carries inherent risks. Success in this field demands effective risk management. To minimize costly errors and capitalize on trading opportunities, it's crucial to conduct thorough due diligence and manage risks diligently.
