S&P 500 / Toward ATH then Dropping

27 Ağu 2024

S&P 500 Technical Analysis:

The S&P tries to get their ATH and then will start a bearish trend if it can stabilize under 5675 or 5709. It will get 5584 and then should break 5584 to be a strong bearish trend this week.
Otherwise, if the price stabilizes above 5675 it will touch 5709, and stabilizing above 5709 will start a new bullish area

Key Levels:
Pivot Line: 5620
Resistance Levels: 5644, 5675, 5709
Support Levels: 5584, 5525, 5491

Expected Trading Range for Today: The price will fluctuate between 5584 and 5675.

Current Trend: First movement bullish to ATH and then bearish starting

28 Ağu 2024

İşlem aktif

still active on the same scenario

28 Ağu 2024

İşlem kapandı: hedefe ulaştı

SPx
Update with still running depending on the explanation below

Moving Well +300 pip ✅

- The price has dropped as expected, yielding a gain of approximately $60, and continues to trend bearish to get 5552 and 5525.

- The bearish outlook remains intact, particularly if the price stabilizes below 5584 with a daily candle close beneath this level.

- However, due to NVIDIA's positive earnings, a corrective move up to 5604 is possible, after that will continue its bearish trend

Timeframe 4h
Current price: 5571