S&P 500 Index Technical Analysis and Intraday Forecast
S&P 500 Index Technical Analysis
The price has declined from its resistance level of 5529 and is currently trading in a bearish zone. As long as it remains below the pivot line, the bearish trend is expected to continue towards 5410.
The price has declined from its resistance level of 5529 and is currently trading in a bearish zone. As long as it remains below the pivot line, the bearish trend is expected to continue towards 5410.
- Intraday Analysis:
Today, the price is likely to stabilize below 5479, maintaining the bearish trend towards 5440 and 5410. - Bullish Scenario:
For a bullish reversal, the price must stabilize above 5502. If this occurs, the bullish trend may target 5529 and subsequently 5550. - Bearish Scenario:
As long as the price trades below the pivot zone, which lies between 5502 and 5479, it is expected to decline further towards 5440 and 5410. - Key Levels:
- Pivot Line: 5479
- Resistance Levels: 5502, 5529, 5550
- Support Levels: 5440, 5410, 5373 - Today's Expected Trading Range:
The anticipated trading range for today is between the resistance at 5502 and the support at 5410.
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