SPx 4H / Toward ATH and Bearish Side
S&P 500 Technical Analysis: Potential Shift from Bullish to Bearish Trend
The S&P 500 is currently striving to reach its all-time high (ATH), but a bearish trend may emerge if the price stabilizes below 5675 or 5709. If this occurs, the index is expected to decline towards 5620 and 5584, with a break below 5584 signaling the start of a significant bearish trend for the week. On the other hand, if the price stabilizes above 5675, it could test 5709, and a sustained move above 5709 would indicate the beginning of a new bullish phase.
Key Levels:
Pivot Line: 5644
Resistance Levels: 5675, 5709, 5732
Support Levels: 5620, 5584, 5525
Expected Trading Range for Today: The price is anticipated to fluctuate between 5584 and 5675.
Current Trend: The market is expected to initially move bullishly towards the ATH, followed by a potential bearish reversal.
The S&P 500 is currently striving to reach its all-time high (ATH), but a bearish trend may emerge if the price stabilizes below 5675 or 5709. If this occurs, the index is expected to decline towards 5620 and 5584, with a break below 5584 signaling the start of a significant bearish trend for the week. On the other hand, if the price stabilizes above 5675, it could test 5709, and a sustained move above 5709 would indicate the beginning of a new bullish phase.
Key Levels:
Pivot Line: 5644
Resistance Levels: 5675, 5709, 5732
Support Levels: 5620, 5584, 5525
Expected Trading Range for Today: The price is anticipated to fluctuate between 5584 and 5675.
Current Trend: The market is expected to initially move bullishly towards the ATH, followed by a potential bearish reversal.
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