On the 4-hour chart of US cash index S& P500 formed a bearish pin bar. Pin bar is testing the level of 8/8 which according to the theory of Murrey Math Lines is a strong resistance and indicates the overbought market.
Therefore, it may be that in the near future we will see downward movement. The next goal is line 7/8, and so the level of 2,183.59, but is likely also decrease by at least two octaves to the line 6/8 (2179.69).
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