SPx500 awaiting additional momentum
Hello everyone, The index price lost positive momentum when the Stochastic indicator exited the overbought level, forcing it to postpone the upward attack after achieving the 4561 level, forming a temporary negative bounce, thus settling near 4550.
Corrective trading may extend towards the 4500 level, forming additional support, which increases the chances of the price gathering the additional positive momentum required to renew the upward attack, which in turn will target the 4588 and 4611 levels, respectively.
Pivot Price: 4561
Resistance prices: 4588 & 4611 & 4633
Support prices: 4500 & 4475 & 4437
The general trend expected for today: fluctuating within the upward path
Corrective trading may extend towards the 4500 level, forming additional support, which increases the chances of the price gathering the additional positive momentum required to renew the upward attack, which in turn will target the 4588 and 4611 levels, respectively.
Pivot Price: 4561
Resistance prices: 4588 & 4611 & 4633
Support prices: 4500 & 4475 & 4437
The general trend expected for today: fluctuating within the upward path
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