Hey Realistic Traders, Will 
US500 Move beyond 6,200? Let’s dive into the analysis...
On the daily chart, the S&P 500 is trading above both the EMA-100 and EMA-200, confirming a robust bullish trend. This momentum was reinforced by a falling wedge breakout, a pattern that typically signals the continuation of bullish pressure. Additionally, the price tested the upper trendline twice and bounced off each time, further underlining the strength of the upward move.
Considering these strong technical signals, the price is likely to move downward toward the first target at 6.240 or potentially the second target at 6.391.
However, this bullish scenario depends on the price staying below the critical stop-loss level at 5844
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Disclaimer: “Please note that this analysis is solely for educational purposes and should not be considered a recommendation to take a long or short position on S&P500”.
US500 Move beyond 6,200? Let’s dive into the analysis...On the daily chart, the S&P 500 is trading above both the EMA-100 and EMA-200, confirming a robust bullish trend. This momentum was reinforced by a falling wedge breakout, a pattern that typically signals the continuation of bullish pressure. Additionally, the price tested the upper trendline twice and bounced off each time, further underlining the strength of the upward move.
Considering these strong technical signals, the price is likely to move downward toward the first target at 6.240 or potentially the second target at 6.391.
However, this bullish scenario depends on the price staying below the critical stop-loss level at 5844
Support the channel by engaging with the content, using the rocket button, and sharing your opinions in the comments below.
Disclaimer: “Please note that this analysis is solely for educational purposes and should not be considered a recommendation to take a long or short position on S&P500”.
Note
Revision: "Considering these strong technical signals, the price is likely to move downward toward the first target at 6.240 or potentially the second target at 6.391" into "Considering these strong technical signals, the price is likely to move upward toward the first target at 6.240 or potentially the second target at 6.391".Trade active
it still makes the consolidation phase on the H4 timeframe, but keeps moving above the EMA-200 line. It usually a sign of a bullish trend
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Related publications
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.