S&P 500 Analysis: Reached the Breakout Zone
S&P 500 Analysis: Reached the Breakout Zone
The price has dropped and reached the breakout zone between 5550 and 5525. To confirm the direction, a 4-hour candle should close above or below this range.
Bullish Scenario:
The bullish trend will be activated by stabilizing above 5550, targeting 5580. Further stability above 5585 will aim for 5620.
Bearish Scenario:
For a downtrend, the price should touch 5525 and stabilize below this level, potentially falling to 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.
previous idea:
The price has dropped and reached the breakout zone between 5550 and 5525. To confirm the direction, a 4-hour candle should close above or below this range.
Bullish Scenario:
The bullish trend will be activated by stabilizing above 5550, targeting 5580. Further stability above 5585 will aim for 5620.
Bearish Scenario:
For a downtrend, the price should touch 5525 and stabilize below this level, potentially falling to 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.
previous idea:
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