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

Daily Price Outlook

- Resistance Levels: Immediate resistance at 6011.99, with higher targets at 6099.55.

- Support Zones: Key support at 5770.88, followed by 5696.90 and 5617.62.

- Technical Indicators: RSI at 38 reflects oversold conditions, while the 50-day EMA at 5970.89 highlights bearish momentum.

The S&P 500 (SPX) is trading at 5868.56, down 0.22%, as it struggles to recover above its pivot point of 5933.60.

The index remains under bearish pressure, with immediate resistance levels at 6011.99 and 6099.55.

On the downside, critical support levels are at 5770.88, 5696.90, and 5617.62, which may help stabilize the index if selling pressure persists.

Technical indicators suggest cautious sentiment. The RSI at 38 indicates oversold conditions, potentially attracting short-term buyers, though a sustained reversal remains uncertain. The 50-day EMA at 5970.89 acts as a key resistance level, reflecting the ongoing downward bias.

A move above the immediate support at 5770.88 could shift the outlook toward consolidation.

However, for a decisive shift to bullish momentum, the SPX must break and sustain above the pivot point at 5933.60. Failure to hold support at 5770.88 may lead to extended losses toward 5696.90 or lower.

S&P 500 - Trade Ideas

Entry Price – Buy Above 5835

Take Profit – 5936

Stop Loss – 5768

Risk to Reward – 1: 1.5

Profit & Loss Per Standard Lot = +$1010/ -$670

Profit & Loss Per Mini Lot = +$101/ -$67