The S&P 500 Index (SPX500USD) is currently trading near a significant supply zone around 5885–5925. Price has shown clear rejection here multiple times, indicating strong selling pressure from institutional players.
Key Levels:
Resistance Zone: 5885–5925 (Supply Zone)
First Support: 5659.1 – former resistance, now turned key support
Major Demand Zone: 5355.3 – 5400, marked by high-volume accumulation (Visible Range POC)
Bearish Scenario: If price fails to break above the 5925 resistance, we may see a potential sell-off toward 5659 first, and possibly down to the 5355 demand zone, especially with upcoming US economic data later this week (as marked by the calendar icons).
Watch For:
Rejection candles or bearish engulfing around 5885–5925
Break and close below 5659 for further downside confirmation
Strong bullish momentum only above 5930 to invalidate bearish bias
Bias: Bearish unless 5930 is broken convincingly.
Technical Tools Used:
Supply & Demand Visible Range (LuxAlgo)
Volume Profile Support Zones
Price Action Structure (1H)
What do you think? Will SPX500 hold the resistance or break to new highs? Let’s discuss!
#SPX500 #SP500 #TradingView #Forex #Indices #TechnicalAnalysis #SupplyAndDemand #PriceAction #SwingTrading
Key Levels:
Resistance Zone: 5885–5925 (Supply Zone)
First Support: 5659.1 – former resistance, now turned key support
Major Demand Zone: 5355.3 – 5400, marked by high-volume accumulation (Visible Range POC)
Bearish Scenario: If price fails to break above the 5925 resistance, we may see a potential sell-off toward 5659 first, and possibly down to the 5355 demand zone, especially with upcoming US economic data later this week (as marked by the calendar icons).
Watch For:
Rejection candles or bearish engulfing around 5885–5925
Break and close below 5659 for further downside confirmation
Strong bullish momentum only above 5930 to invalidate bearish bias
Bias: Bearish unless 5930 is broken convincingly.
Technical Tools Used:
Supply & Demand Visible Range (LuxAlgo)
Volume Profile Support Zones
Price Action Structure (1H)
What do you think? Will SPX500 hold the resistance or break to new highs? Let’s discuss!
#SPX500 #SP500 #TradingView #Forex #Indices #TechnicalAnalysis #SupplyAndDemand #PriceAction #SwingTrading
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✅ICMARKETS frankfxx.com/icmarkets
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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.