SPX500 is nearly 20% drop…
US SPX 500 OANDA:SPX500USD
SPX500 is nearly 20% drop. D1 momentum candle indicates a decreasing trend. The upper level of the parallel channel drawn on the ATR axis (orange line) is a resistance to the exchange rate. Also, it can be seen that the exchange rate is the last part of a double-rising correction wave. The last wave target price is 2744 usd. From this level, I wait for a double downward wave. The target price for this wave structure is 2292 usd. So from the current level to nearly 20% fall.