S&P Analysis Technically, looking at the analysis, we see that it is poised for a potential move, but the immediate outlook is vague due to the downtrend not being broken yet, traders are advised to focus on key support and resistance levels to navigate the market effectively. The short-term support of the S&P is located at 5,667 and 5,653 around the area, which is considered a critical area for further price gains. A drop below this level may indicate potential downside risks, although a quick recovery is possible given the overall uptrend.
On the positive side, the resistance area between 5,965 and 6,100 is important, and traders may consider taking short positions if the price moves into this range. However, the general short-term trading strategy remains focused on buying on dips and selling on rallies, with a particular focus on the support at 5,661 and resistance at 6,100 -.
Trading Recommendations
Entry Price ⚜️
BUY. 5,763 ♻️
TP. 1. 5,829🔰
TP. 2. 5,898🔰
TP. 3. 5,961🔰
TP. 4. 6,028🔰
TP. 5. 6,100🔰
Stop Loss;
SL. 5,560📛⛔️
On the positive side, the resistance area between 5,965 and 6,100 is important, and traders may consider taking short positions if the price moves into this range. However, the general short-term trading strategy remains focused on buying on dips and selling on rallies, with a particular focus on the support at 5,661 and resistance at 6,100 -.
Trading Recommendations
Entry Price ⚜️
BUY. 5,763 ♻️
TP. 1. 5,829🔰
TP. 2. 5,898🔰
TP. 3. 5,961🔰
TP. 4. 6,028🔰
TP. 5. 6,100🔰
Stop Loss;
SL. 5,560📛⛔️
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.
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.