On the H4 chart, there is a correction of the downward movement. The instrument is trading between the lower and center lines of Bollinger Bands, the indicator cloud is expanded, which indicates a likely resumption of decline at the end of the correction in the short term. MACD histogram is in the negative zone; the signal line is crossing the zero level and the body of the histogram from above, forming a signal to open short positions. Stochastic is in the neutral zone, and the lines of the oscillator are directed upwards. The signal to open long positions remains.
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The S&P 500 wide-spectrum index started the week with a gap due to the worsening Chinese epidemiological situation.
On the 4-hour chart, a sideways trend is forming. The instrument is trading within the corridor formed by the boundaries of Bollinger bands. The indicator cloud is expanding. The MACD histogram is around the zero line, its volumes are minimal, and the signal line is horizontal and does not form a clear signal to enter the market. Stochastic crosses the border of the overbought zone upwards; a signal to open long positions maintains.
A downtrend is forming on the H4 chart. The instrument is trading near the lower border of Bollinger Bands; the indicator cloud is expanded, which indicates the likely preservation of the downtrend in the short term. MACD histogram is in the negative zone, gradually increasing volumes; the signal line is about to cross the zero level from above, after which a signal will be formed to open short positions. Stochastic crosses the oversold zone from above, retaining a signal to open short positions.