S&P 500 Analysis: Reached the Breakout Zone

S&P 500 Analysis: Reached the Breakout Zone

The price has dropped and reached the breakout zone between 5550 and 5525. To confirm the direction, a 4-hour candle should close above or below this range.

Bullish Scenario:
The bullish trend will be activated by stabilizing above 5550, targeting 5580. Further stability above 5585 will aim for 5620.

Bearish Scenario:
For a downtrend, the price should touch 5525 and stabilize below this level, potentially falling to 5491.

Key Levels:
- Pivot Line: 5550
- Resistance Levels: 5580, 5620, 5640
- Support Levels: 5525, 5491, 5460

Today's Expected Trading Range:
The expected trading range is between the resistance at 5585 and the support at 5460.

previous idea:
S&P 500 Analysis: Reversal from All-Time High
SPX (S&P 500 Index)S&P 500 (SPX500)Supply and DemandSupport and ResistanceTrend Analysis

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