SPX500 Overview
Today’s market is expected to be highly volatile with the release of U.S. CPI data.
The forecast is 2.8%, higher than the previous reading, indicating inflation remains elevated. A result above 2.8% would likely support a bearish trend for indices, while a figure below expectations could trigger bullish momentum.
Technical Outlook:
As long as the price trades below 6389, the downside targets are 6365, then 6341, and 6321.
A 1H close above 6389 would shift momentum bullish toward 6425.
Support: 6365, 6341, 6321
Resistance: 6404, 6425, 6438
Today’s market is expected to be highly volatile with the release of U.S. CPI data.
The forecast is 2.8%, higher than the previous reading, indicating inflation remains elevated. A result above 2.8% would likely support a bearish trend for indices, while a figure below expectations could trigger bullish momentum.
Technical Outlook:
As long as the price trades below 6389, the downside targets are 6365, then 6341, and 6321.
A 1H close above 6389 would shift momentum bullish toward 6425.
Support: 6365, 6341, 6321
Resistance: 6404, 6425, 6438
Technical analyst focused on gold, indices, and forex.
Providing regular updates with structure, entry/exit clarity, and real-time outlooks.
More at: sroshmayi.com/
Providing regular updates with structure, entry/exit clarity, and real-time outlooks.
More at: sroshmayi.com/
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Technical analyst focused on gold, indices, and forex.
Providing regular updates with structure, entry/exit clarity, and real-time outlooks.
More at: sroshmayi.com/
Providing regular updates with structure, entry/exit clarity, and real-time outlooks.
More at: sroshmayi.com/
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.