SPY – June Update
SPY continues to trade within a well-defined ascending channel, with bullish momentum intact.
Price is currently approaching a major resistance at 608, while holding above the key support at 590.
Immediate upside target: 608, followed by potential extension toward the gap fill near 611.
If price fails to hold above 590, downside pressure could lead to a retest of the gaps at 550 and 530, which act as major support zones.
As long as SPY remains above the channel midpoint and above EMA20 (585.77), the bullish structure remains valid.
#SPY #SP500 #Stocks #TechnicalAnalysis #OptionsFlow #Momentum #Support #Resistance
#globaltrade #investment #investing #stockmarket #wealth #realestate #markets #economy #finance #money #forex #trading #price #business #currency #blockchain #crypto #cryptocurrency #airdrop #btc #ethereum #ico #altcoin #cryptonews #Bitcoin #ipo
SPY continues to trade within a well-defined ascending channel, with bullish momentum intact.
Price is currently approaching a major resistance at 608, while holding above the key support at 590.
Immediate upside target: 608, followed by potential extension toward the gap fill near 611.
If price fails to hold above 590, downside pressure could lead to a retest of the gaps at 550 and 530, which act as major support zones.
As long as SPY remains above the channel midpoint and above EMA20 (585.77), the bullish structure remains valid.
#SPY #SP500 #Stocks #TechnicalAnalysis #OptionsFlow #Momentum #Support #Resistance
#globaltrade #investment #investing #stockmarket #wealth #realestate #markets #economy #finance #money #forex #trading #price #business #currency #blockchain #crypto #cryptocurrency #airdrop #btc #ethereum #ico #altcoin #cryptonews #Bitcoin #ipo
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.