US500: Falling or Rising?

US500, H4

On the H4, US500 has formed an ascending channel pattern. The price fell to the lower trend line and crossed the lower Bollinger line. At the same time, the CCI is ready to exit the oversold zone. However, a divergence has formed on the RSI, which may indicate a decline.

• If the price breaks the trendline below 5850, it will fall to 5700 and further to 5600;

• A rebound from the trendline will bring the US500 back to 5980;