S&P500 INDEX (US500): Bullish Breakout & ContinuationThe US500 Index successfully surpassed and closed above a strong daily horizontal resistance.
Following the violation, the market tested the previously broken level and began to consolidate.
A bullish breakout from the consolidation range's resistance line provides a robust confirmation of a bullish trend.
This increases the likelihood that the upward momentum will persist, with a target set at 5,880.