SPx 4H Bullish Momentum Holds Above Key Support
Markets Eye Fresh Drivers; Bullish Momentum Holds Above Key Support
Wall Street is on the lookout for new catalysts before the market opens, while markets in Asia and Europe are showing gains. The price has recently risen and hit our target with a solid +1.8% increase, and the momentum is still pointing towards the next targets of 5584 and 5620, provided it stays above the key level of 5525.
Bullish Scenario:
If the price remains above 5525, the bullish trend is likely to continue, aiming for the next resistance levels at 5584 and 5620.
Bearish Scenario:
If the price drops and a 4-hour candle closes below 5525, this would indicate a potential decline towards 5491 and 5460.
Key Levels:
- Pivot Line: 5525
- Resistance Levels: 5584, 5620, 5670
- Support Levels: 5491, 5460, 5409
Today's Expected Trading Range: The price is expected to fluctuate between 5525 and 5620.
Tendency: Bullish momentum.
Previous idea:
Wall Street is on the lookout for new catalysts before the market opens, while markets in Asia and Europe are showing gains. The price has recently risen and hit our target with a solid +1.8% increase, and the momentum is still pointing towards the next targets of 5584 and 5620, provided it stays above the key level of 5525.
Bullish Scenario:
If the price remains above 5525, the bullish trend is likely to continue, aiming for the next resistance levels at 5584 and 5620.
Bearish Scenario:
If the price drops and a 4-hour candle closes below 5525, this would indicate a potential decline towards 5491 and 5460.
Key Levels:
- Pivot Line: 5525
- Resistance Levels: 5584, 5620, 5670
- Support Levels: 5491, 5460, 5409
Today's Expected Trading Range: The price is expected to fluctuate between 5525 and 5620.
Tendency: Bullish momentum.
Previous idea:
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