SPx, Bearish Area in correction case
S&P 500 Analysis: Bearish Area in correction case
The SPx corrected the price to their resistance of 5460 and as long as under 5460 means falling to get 5409, so still running and consolidating between 5460 and 5409.
Bullish Scenario:
the price should reverse and stabilize above 5460 to a bullish trend toward 5491 and 5525
**Bearish Scenario:**
The price will continue their dropping to reach 5409 and then should stabilize below that to be a downtrend till 5372 and 5346
Key Levels:
- Pivot Line: 5460
- Resistance Levels: 5490, 5525, 5512
- Support Levels: 5409, 5372, 5346
Today's Expected Trading Range:
The expected trading range is between the resistance at 5491 and the support at 5372.
The SPx corrected the price to their resistance of 5460 and as long as under 5460 means falling to get 5409, so still running and consolidating between 5460 and 5409.
Bullish Scenario:
the price should reverse and stabilize above 5460 to a bullish trend toward 5491 and 5525
**Bearish Scenario:**
The price will continue their dropping to reach 5409 and then should stabilize below that to be a downtrend till 5372 and 5346
Key Levels:
- Pivot Line: 5460
- Resistance Levels: 5490, 5525, 5512
- Support Levels: 5409, 5372, 5346
Today's Expected Trading Range:
The expected trading range is between the resistance at 5491 and the support at 5372.
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