Trade Idea: Bearish Swing Trade
S&P500 had a strong recovery after wiping out most of last year’s gain. Since then price has been in a pullback, where price seems to be trading in a bullish channel . Now price is trading at the topside of the channel, in which price has been struggling to break the current trend. Thus, it indicates a potential move for a bearish reversal. In addition, US-China trade talks came out with no major announcements. Therefore, this could be a potential catalyst for a reversal.
IG Broker: Client US500 Positioning