After an impressive rally in the last three weeks, the S&P 500 (SPX) has returned to the familiar resistance zone of 4,530 - 4,600, mirroring the rejection experienced at the end of July.
At its current position of 4,558, the SPX is signaling overbought conditions, raising caution among market participants. The critical question now is whether this marks a retest of the previous breakthrough.
Two potential scenarios are in focus:
Rejection Alert: If the SPX faces rejection at this resistance, the next crucial support area to monitor is in the range of 4,430 - 4,460.
Breakthrough Possibility: On the flip side, a successful breakthrough could pave the way for further upward momentum, potentially indicating a sustained bullish trend.
At its current position of 4,558, the SPX is signaling overbought conditions, raising caution among market participants. The critical question now is whether this marks a retest of the previous breakthrough.
Two potential scenarios are in focus:
Rejection Alert: If the SPX faces rejection at this resistance, the next crucial support area to monitor is in the range of 4,430 - 4,460.
Breakthrough Possibility: On the flip side, a successful breakthrough could pave the way for further upward momentum, potentially indicating a sustained bullish trend.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.