S&P500 Just bounced from a key support level, but for long?

The S&P 500 was down again last week, but towards the end of the week when price was approaching the support level, things were looking a little positive and seemed stabilized. In the past this level was sigificant and acted as the last significant support level before the COVID collapse in February.

I would be keeping a close eye on the index if it breaks below the support line then it's most likely considered the real "second wave".

Let me know your thoughts in the comment section below.