Indice S&P 500
Short

SPX in Consolidation Bearish Outlook Unless Key Resistance Break

247
Technical Analysis:

  • The price currently trades within a liquidity zone between 5,849 and 5,891, showing consolidation. A retest of this liquidity zone is likely, with a potential rejection if the price fails to break above 5,891.
  • If the price breaks and holds above the 5,891 level, the next target would be the resistance line at around 5,939.
  • On the downside, a rejection from the liquidity zone could send the price back down towards the support line near 5,825 or even further towards 5,781.
    Retest Possibility:
    A retest of the liquidity zone between 5,849 and 5,891 is probable. If the price holds below this zone, a bearish move is expected.

    Correct Direction:
  • Bearish: If the price fails to break above 5,891 and the liquidity zone holds as resistance, the price is likely to move towards 5,825 or lower.
  • Bullish: If the price breaks and closes above 5,891, a bullish continuation towards 5,939 is expected.

    The overall bias is bearish unless there is a confirmed breakout above the liquidity zone.

    Key Levels:
    Pivot Point: 5863
    Resistance Levels: 5891, 5915, 5939
    Support Levels: 5836, 5807, 5781

    Trend Outlook:
    Bearish below 5863
    Bullish above 5891

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