SPX: Liquidity Zone Breakout or Support Breakdown Ahead
Technical Analysis:
The price is testing the support line after pulling back from the liquidity zone around 5,863.
If the price holds above the pivot line and breaks the liquidity zone, it could rally toward 5,939.
A failure to hold the support line could lead to a bearish move, with potential targets at 5,781 and 5,732.
Watch for confirmation at the liquidity zone for a bullish breakout or breakdown from the support line for further downside movement.
Key Levels:
Pivot Point: 5832
Resistance Levels: 5863, 5891, 5939
Support Levels: 5803, 5781, 5732
Trend Outlook:
Bearish below 5832
Bullish above 5832
The price is testing the support line after pulling back from the liquidity zone around 5,863.
If the price holds above the pivot line and breaks the liquidity zone, it could rally toward 5,939.
A failure to hold the support line could lead to a bearish move, with potential targets at 5,781 and 5,732.
Watch for confirmation at the liquidity zone for a bullish breakout or breakdown from the support line for further downside movement.
Key Levels:
Pivot Point: 5832
Resistance Levels: 5863, 5891, 5939
Support Levels: 5803, 5781, 5732
Trend Outlook:
Bearish below 5832
Bullish above 5832
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