The S&P 500 index is currently exhibiting a critical technical structure. After forming a series of Higher Highs (HH) and Higher Lows (HL) within a well-respected rising trendline, the price recently made an All-Time High (ATH) but has since shown signs of weakness. The trendline, which has acted as a dynamic resistance multiple times, has now been broken.
At present, the price is retesting the key horizontal support zone and the 200 EMA after the breakdown. This retest is crucial—a rejection here could confirm a bearish shift, potentially leading to lower levels near the next key support zone. Additionally, the RSI is displaying a bearish divergence, signaling weakening momentum despite recent highs.
Key Takeaway:
Watch for confirmation at the retest zone. A rejection may signal a deeper correction, while a reclaim of the trendline and 200 EMA could reestablish the bullish structure. Risk management is key at these pivotal levels.
At present, the price is retesting the key horizontal support zone and the 200 EMA after the breakdown. This retest is crucial—a rejection here could confirm a bearish shift, potentially leading to lower levels near the next key support zone. Additionally, the RSI is displaying a bearish divergence, signaling weakening momentum despite recent highs.
Key Takeaway:
Watch for confirmation at the retest zone. A rejection may signal a deeper correction, while a reclaim of the trendline and 200 EMA could reestablish the bullish structure. Risk management is key at these pivotal levels.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.