S&P 500 (SPX) Daily Technical Analysis
- Price Action: The index is trading at 5,730.7, currently testing a strong support zone after a sharp decline.
- Trend Analysis: The upward trendline has been broken, signaling a shift in market sentiment. However, price is reacting to a key support area.
- Key Levels:
- Support Zone: 5,670 - 5,730 (critical area for potential reversal)
- 1st Target: 5,947 (previous support turned resistance)
- 2nd Target: 6,099 (major resistance level)
- Outlook: A bullish bounce from the strong support area could drive the price towards 5,947, aligning with the broken trendline. Failure to hold above 5,670 may indicate further downside.
📈 Watch for bullish confirmation at support before entering long positions.
If you enjoy, press the like button.
- Price Action: The index is trading at 5,730.7, currently testing a strong support zone after a sharp decline.
- Trend Analysis: The upward trendline has been broken, signaling a shift in market sentiment. However, price is reacting to a key support area.
- Key Levels:
- Support Zone: 5,670 - 5,730 (critical area for potential reversal)
- 1st Target: 5,947 (previous support turned resistance)
- 2nd Target: 6,099 (major resistance level)
- Outlook: A bullish bounce from the strong support area could drive the price towards 5,947, aligning with the broken trendline. Failure to hold above 5,670 may indicate further downside.
📈 Watch for bullish confirmation at support before entering long positions.
If you enjoy, press the like button.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
💸FREE FOREX Signals in Telegram : t.me/SOAMPROTRADER
🔹Join Our Telegram Channel, Pure Price Action Based Signals With Chart Analysis.
t.me/SOAMPROTRADER
🚀FREE CRYPTO Signals In Telegram: t.me/SOAMPROTRADER
🔹Join Our Telegram Channel, Pure Price Action Based Signals With Chart Analysis.
t.me/SOAMPROTRADER
🚀FREE CRYPTO Signals In Telegram: t.me/SOAMPROTRADER
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.