S&P500 bottomed on its Falling Wedge. Strong short term upside.

S&P500 / SPX is trading inside a Falling Wedge since the November 19th low and today hit the pattern's bottom.

This has coincided with the 4hour RSI hitting the 30.00 oversold limit.

Every time this has take place, the price rebounded to at least its 0.786 Fibonacci and the 4hour MA200.

This time the 0.786 Fib is very close to the top of the Falling Wedge but we can technically target the 4hour MA200 a little lower at 5950.


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