SPx / Critical Levels to Watch for Bullish or Bearish Momentum
Updated
S&P 500 Index Technical Analysis:
To initiate a downside move, the price needs to stabilize below 5,863. However, any quick break above 5,863 would likely propel the price towards 5,891.
Bearish Scenario: Stability below 5,863 would open the path to 5,824 and 5,803. A 4-hour candle close below 5,781 would activate a stronger bearish zone, allowing for further declines.
Bullish Scenario: A successful breakout above 5,863 would signal potential for a move to 5,891. A further break above 5,891 would confirm the bullish trend, with an extended target of 5,939.
Key Levels:
Pivot Point: 5863
Resistance Levels: 5891, 5939
Support Levels: 5824, 5803, 5781
Trend Outlook:
Bearish below 5863
Bullish above 5863 and 5891
To initiate a downside move, the price needs to stabilize below 5,863. However, any quick break above 5,863 would likely propel the price towards 5,891.
Bearish Scenario: Stability below 5,863 would open the path to 5,824 and 5,803. A 4-hour candle close below 5,781 would activate a stronger bearish zone, allowing for further declines.
Bullish Scenario: A successful breakout above 5,863 would signal potential for a move to 5,891. A further break above 5,891 would confirm the bullish trend, with an extended target of 5,939.
Key Levels:
Pivot Point: 5863
Resistance Levels: 5891, 5939
Support Levels: 5824, 5803, 5781
Trend Outlook:
Bearish below 5863
Bullish above 5863 and 5891
Trade closed: target reached
SPx
Live Update
Technical Analysis
The price has dropped approximately 1.5% as anticipated and continues to show bearish momentum while trading below 5,781.
Bearish Scenario: Sustained stability below 5,781 could lead to a decline towards 5,732. A 1-hour or 4-hour candle close below 5,732 would activate the next bearish zone.
Bullish Scenario: A reversal and stabilization above 5,803 would signal potential for an upward move towards 5,824 and 5,850.
Bullish scenario: the price should reverse and stabilize above 5803 to get 5824 and 5850
Key Levels:
Pivot Point: 5781
Resistance Levels: 5803, 5824, 5852
Support Levels: 5732, 5675, 5643
Trend Outlook:
- Bearish while below 5781
- Consolidation 5781 and 5803
Trade closed: target reached
#SPx
Update
Moving Well +250 pip ✅
the price dropped as we mentioned and now should break 57312 by closing 4h candle under it to be more bearish till 5675
Timeframe 4h,1h
current price 5744
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~6 analyses per day. With a clear entry point
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