SPx / BREAKOUT, Pivot Zone
Updated
S&P 500 Analysis: Reached to the breakout zone
The price dropped and reached the breakout zone between 5550 and 5525, to confirm the right direction should close 4h candle above or below it.
Bullish Scenario:
The bullish trend will be activated by stabilizing above 5550 to get 5580 and above 5585 will get 5620.
Bearish Scenario:
For a downtrend, the price will touch 5525 and then should stabilize under 5525 to be downtrend till 5491
Key Levels:
- Pivot Line: 5550
- Resistance Levels: 5580, 5620, 5640
- Support Levels: 5525, 5491, 5460
Today's Expected Trading Range:
The expected trading range is between the resistance at 5585 and the support at 5460.
The price dropped and reached the breakout zone between 5550 and 5525, to confirm the right direction should close 4h candle above or below it.
Bullish Scenario:
The bullish trend will be activated by stabilizing above 5550 to get 5580 and above 5585 will get 5620.
Bearish Scenario:
For a downtrend, the price will touch 5525 and then should stabilize under 5525 to be downtrend till 5491
Key Levels:
- Pivot Line: 5550
- Resistance Levels: 5580, 5620, 5640
- Support Levels: 5525, 5491, 5460
Today's Expected Trading Range:
The expected trading range is between the resistance at 5585 and the support at 5460.
Note
Bullish Scenario:The bullish trend will be activated by stabilizing above 5550 to get 5580 and above 5585 will get 5620.
as we said the bullish trend will be active if the price stabilizes above 5550, to touch 5580, currently the price trading above 5550 and around the resistance of 5580. a breaking above 5580 and above 5585 will get 5620.
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