SPx continues to move towards a new bullish area.
Updated
S&P 500 Index Technical Analysis
The S&P 500 (SPX) has maintained its bullish trend as anticipated and continues to move towards a new bullish area.
The S&P 500 (SPX) has maintained its bullish trend as anticipated and continues to move towards a new bullish area.
- Intraday Analysis:
Today, the price may stabilize above 5502 to continue the bullish trend towards 5530 and 5550. - Bullish Scenario:
As long as the price trades above 5502, the bullish trend is likely to continue, targeting 5530 and 5550. There is also a possibility of a price correction down to 5480 before pushing up again. - Bearish Scenario:
If the price drops and stabilizes below 5479, it may enter a downtrend towards 5438 and 5410. - Key Levels:
- Pivot Line: 5502
- Resistance Levels: 5530, 5550, 5595
- Support Levels: 5479, 5440, 5410 - Today's Expected Trading Range:
The anticipated movement range for today is between the resistance at 5550 and the support at 5479.
Summary:
Maintaining a position above 5479 supports a bullish outlook, aiming for higher resistance levels. Conversely, trading below 5479 indicates a bearish trend, with potential support targets at 5438 and below.
Comment
the price reached the target we mentioned 5529 and now will consolidate between 5529 and 5502 till breaking 
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