SPX500 | Overview
The price rejected the resistance zone near 5966 and is now showing bearish pressure.
Currently, the market remains under pressure as the price has stabilized below the pivot line at 5907.
As long as the price trades below 5908, further downside is likely toward the demand area between 5858 and 5838.
📉 A 4H candle close below 5908 will confirm continuation of the bearish trend.
📈 However, if the price climbs and stabilizes above 5908, a bullish attempt toward 5938–5966 is possible.
Pivot Level: 5908
Resistance: 5938 – 5966 – 5990
Support: 5879 – 5858 – 5838
The price rejected the resistance zone near 5966 and is now showing bearish pressure.
Currently, the market remains under pressure as the price has stabilized below the pivot line at 5907.
As long as the price trades below 5908, further downside is likely toward the demand area between 5858 and 5838.
📉 A 4H candle close below 5908 will confirm continuation of the bearish trend.
📈 However, if the price climbs and stabilizes above 5908, a bullish attempt toward 5938–5966 is possible.
Pivot Level: 5908
Resistance: 5938 – 5966 – 5990
Support: 5879 – 5858 – 5838
Trade active
SPX500 | UpdateCurrent Scenario:
The price is showing bearish momentum due to escalating tensions between Ukraine and Russia. This geopolitical risk continues to pressure indices.
Price is approaching the 5858 level. A 1H candle close below 5838 is needed to confirm continuation toward 5791 and 5751.
Alternative Scenario:
If the price stabilizes above 5858, it may gain bullish momentum toward 5905. A break above 5905 could open the door to further upside toward 5938 and 5966.
Technical Comment:
Geopolitical concerns are fueling a risk-off environment, favoring bearish movement. 5858 acts as the pivot; breaking 5838 confirms bearish continuation, while holding above 5858 keeps short-term bullish recovery in play.
Pivot Level: 5858
Support: 5838, 5791, 5751
Resistance: 5905, 5938, 5966
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.