S&P500 (SPX) Price Analysis and Trade Forecast: Daily Trading Signal

Daily Price Outlook

- Pivot Support: The 6,053.16 level is crucial for maintaining short-term stability.

- Resistance Levels: Targets at 6,093.09 and 6,127.09 signal potential upside if momentum shifts.

- Mixed Sentiment: RSI at 45 and 50 EMA near current levels reflect a balanced, cautious outlook.

The SPX500 trades at 6,051.25, down 0.54% on the 4-hour chart, reflecting cautious market sentiment. Prices hover near the pivot point at 6,053.16, which acts as a critical level for maintaining stability.

Immediate resistance is seen at 6,093.09, followed by 6,127.09 and 6,165.62. On the downside, immediate support lies at 6,028.71, with additional levels at 5,984.87 and 5,950.90, offering safety nets for bearish pressure.

The 50 EMA at 6,048.99 aligns closely with current levels, suggesting the index is testing short-term equilibrium.

The Relative Strength Index (RSI) at 45 highlights neutral momentum, tilting slightly bearish, which could limit significant upside unless buying interest revives.

A Buy Limit entry at 6,028 targets 6,092, with a Stop Loss at 5,990 to manage downside risks. A break above 6,093.09 would signal renewed bullish momentum, paving the way for higher targets, while failure to hold the pivot point could prompt a decline toward 5,984.87.

Traders should monitor global risk sentiment and economic data releases, as they are likely to influence near-term trends.

S&P 500 - Trade Ideas

Entry Price – Buy Limit 6028

Take Profit – 6092

Stop Loss – 5990

Risk to Reward – 1: 1.6

Profit & Loss Per Standard Lot = +$640/ -$380

Profit & Loss Per Mini Lot = +$64/ -$38