SPX500 Holds Key Support – Bullish Bounce or More Downside?📉 S&P 500 (SPX500) Analysis – February 28, 2025 📉
The S&P 500 has dropped -2.8% to 5,856, as expected , after rejecting the 6,010 pivot zone.
📌 Today's Outlook:
Bullish Scenario: S&P 500 is showing bullish momentum after stabilizing above the pivot zone (5,879 - 5,856), which acts as a key daily support area. As long as the price trades above this zone, it is likely to push up toward 5,898 and 5,920, with consolidation expected between 5,879 – 5,920.
Bearish Scenario: A 4H candle close below 5,856 would confirm a bearish shift, targeting 5,826 and potentially 5,792 as the next downside levels.
📊 Key Levels to Watch:
🔸 Resistance: 5,898 | 5,920 | 5,960
🔹 Pivot: 5,880
🔻 Support: 5,856 | 5,792 | 5,765
🚀 Will SPX500 hold above support, or is another drop coming? Share your thoughts! 👇🔥