Is SPX500 Poised for an Upward Movement?
SPX500USDDaily Chart
Current Price: 5,812.8
Analysis: Falling Broadening Wedge:
Upon analysing the daily chart, the price is forming a Falling Broadening Wedge pattern, which typically indicates a continuation of the prevailing trend. This pattern often suggests increasing volatility, leading to a potential bullish breakout if the price breaches resistance levels.
Support Levels:
• 5,703.1
• 5,625.0
Resistance Levels:
• 5,937.5
• 6,015.6
• 6,097.0
Happy Trading!
Stay tuned for further updates and insights.
Trade active
Ultimate Resistance Reached: 5,937.5Trade closed: target reached
Overbought: 6,015.6 Reached
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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.
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.