SPX500 Correction Before Rally? Key Levels in FocusSPX500 OVERVIEW
Fundamental Context:
The U.S. and EU have averted a tariff standoff. The agreement reduces the baseline tariff on most European imports to 15%, down from the previously threatened 30% by the Trump administration. In return, the EU has committed to investing approximately $600 billion in the U.S.
Additionally, U.S.–China trade talks are ongoing in Stockholm, with reports suggesting a possible 90-day extension to the tariff deadline.
Technical Outlook:
SPX500 maintains a bullish bias due to easing trade tensions. However, as long as the price trades below 6421, a short-term correction toward 6397 and 6388 is likely. A rebound is expected if the price stabilizes above 6388.
🔺 Bullish Continuation will be confirmed if a 1H candle closes above 6427, potentially targeting 6454 and 6470.
Key Levels
• Support: 6397 – 6388 – 6365
• Resistance: 6454 – 6470
Fundamental Context:
The U.S. and EU have averted a tariff standoff. The agreement reduces the baseline tariff on most European imports to 15%, down from the previously threatened 30% by the Trump administration. In return, the EU has committed to investing approximately $600 billion in the U.S.
Additionally, U.S.–China trade talks are ongoing in Stockholm, with reports suggesting a possible 90-day extension to the tariff deadline.
Technical Outlook:
SPX500 maintains a bullish bias due to easing trade tensions. However, as long as the price trades below 6421, a short-term correction toward 6397 and 6388 is likely. A rebound is expected if the price stabilizes above 6388.
🔺 Bullish Continuation will be confirmed if a 1H candle closes above 6427, potentially targeting 6454 and 6470.
Key Levels
• Support: 6397 – 6388 – 6365
• Resistance: 6454 – 6470
Trade active
SPX500 UpdateThe price dropped and corrected precisely to our mentioned level at 6388, where it found support and reversed to the upside.
Currently, SPX500 is attempting to reach 6427. A clear break above 6427 is needed to confirm continuation of the bullish trend toward 6454.
However, as long as the price remains below the 6415–6427 zone, a bearish correction may occur before resuming the upward move.
Key Levels:
• Support: 6388 – 6365
• Resistance: 6427 – 6454
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/
Related publications
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/
Related publications
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.