SPX500USD ( UNDER BEARISH PRESSURE ) ( 1H )

1 TemSPX500USD

HELLO TRADERS

Tendency the price stabilizing below turning level at 5,488 , indicates under bearish pressure

PRICE MOVEMENT :
the price stabilizing below turning level at 5,488 , indicates to reach a support level, have two condition to reach this level , first condition corrective 5,488 before dropping to 5,438 , the second condition in a direct manner reach around 5,378 ,

if the breaking turning level at 5,488 , the price of the spx500usd reach a new historical peak , but reaches the resistance level early around 5,524 , after create new resistance level at 5,561

TARGET LEVEL :

• TURNING LEVEL : 5,488
  
• RESISTANCE LEVEL : 5,524 , 5,561
  
• SUPPORT LEVEL : 5,438 , 5,378