S&P500 (SPX) Price Analysis and Trade Forecast: Daily Trading Signal
Daily Price Outlook
- Resistance Levels: Immediate resistance at 5,765.05, with further levels at 5,798.37 and 5,825.90.
- Support Levels: Key support at 5,696.93, with additional support at 5,675.11 and 5,649.97.
- RSI: At 21, indicating oversold conditions but weak momentum, which may sustain bearish sentiment.
The S&P 500 (SPX) has seen a notable decline, currently trading around 5,705.44, down 1.86% as bearish momentum persists. The index faces strong resistance near 5,765.05, a key pivot point aligning with recent highs.
Should the S&P 500 manage to break above this level, it could target the next resistance at 5,798.37, with an upper threshold near 5,825.90. However, with the 50-day EMA positioned at 5,809.62 and downward pressure evident, the index may struggle to regain bullish traction in the near term.
On the support side, immediate support rests at 5,696.93, with further support levels at 5,675.11 and 5,649.97. The RSI has dipped to a low 21, signaling oversold conditions that could potentially attract short-term buying interest. Yet, the overall technical setup remains weak, as the index struggles below the 50-day EMA, reflecting a bearish bias.
For traders looking to capitalize on this trend, an entry below 5,730 could provide a viable short position, with profit-taking opportunities around 5,675, and a stop loss set at 5,764 to manage risk. As market sentiment remains fragile, further downside appears likely unless key resistance levels are breached.
Given these conditions, the S&P 500’s outlook remains tilted to the downside, with a strong test of support likely in the days ahead.
S&P 500 - Trade Ideas
Entry Price – Sell Below 5730
Take Profit – 5675
Stop Loss – 5764
Risk to Reward – 1: 1.6
Profit & Loss Per Standard Lot = +$550/ -$340
Profit & Loss Per Mini Lot = +$55/ -$34
S&P500 (SPX) Price Analysis – Nov 01, 2024
Daily Price Outlook
The global market sentiment has turned bearish, as evidenced by the S&P 500's sharp decline to 5,702.45, down 1.86%. This marks its largest one-day drop since September 3. In addition to this, Nasdaq Composite also faced losses, falling 2.76% to close at 18,095.15.
However, this downturn can be attributed to disappointing earnings reports from major tech companies like Microsoft and Meta Platforms. Apart from this, the ongoing uncertainty surrounding the upcoming U.S. Presidential election has further impacted market confidence and contributed to the losses.
Geopolitical Uncertainty and Market Volatility Impacting S&P 500 Performance
On the geopolitical front, Investors are increasingly concerned about rising tensions, especially with Israel on high alert for a possible Iranian response following its recent attacks.
Meanwhile, U.S. officials are visiting the Middle East to stop Iran from retaliating and to address problems in Lebanon and Gaza, but there is doubt about whether these efforts will ease tensions before the election. These geopolitical tensions are weighing heavily on market sentiment, leading to increased volatility and declines in major indexes like the S&P 500.
Economic Uncertainty and Mixed Data Weigh on S&P 500 Performance
The S&P 500 has shown bearish performance, influenced also by the recent release of Personal Consumption Expenditures (PCE) data on Thursday. Meanwhile, the market remains cautious ahead of the upcoming U.S. presidential election, which is adding to the uncertainty.
Traders are now waiting for the Nonfarm Payrolls (NFP) report set to be released on Friday, with expectations that the U.S. economy added 113,000 jobs in October and the unemployment rate will hold steady at 4.1%.
On the data front, the PCE Price Index indicated a year-over-year rise in core inflation of 2.7% in September, which may keep investors on edge. Furthermore, Initial Jobless Claims dropped to a five-month low of 216,000, signaling a resilient labor market.
However, this mixed data does little to boost market confidence, especially with the U.S. GDP growing at an annualized rate of 2.8% in Q3, falling short of the 3.0% growth anticipated.
Meanwhile, the ADP Employment Change report showed a robust addition of 233,000 jobs in October, the decline in JOLTS Job Openings to 7.443 million in September, below expectations, adds to the negative sentiment impacting the S&P 500.
As a result, the S&P 500 index is feeling the heat from economic uncertainty, mixed signals in the labor market, and ongoing inflation worries. This has left investors feeling cautious as they look ahead to important economic reports and the upcoming presidential election.
S&P 500 – Technical Analysis
The S&P 500 (SPX) has seen a notable decline, currently trading around 5,705.44, down 1.86% as bearish momentum persists. The index faces strong resistance near 5,765.05, a key pivot point aligning with recent highs.
Should the S&P 500 manage to break above this level, it could target the next resistance at 5,798.37, with an upper threshold near 5,825.90. However, with the 50-day EMA positioned at 5,809.62 and downward pressure evident, the index may struggle to regain bullish traction in the near term.
On the support side, immediate support rests at 5,696.93, with further support levels at 5,675.11 and 5,649.97. The RSI has dipped to a low 21, signaling oversold conditions that could potentially attract short-term buying interest. Yet, the overall technical setup remains weak, as the index struggles below the 50-day EMA, reflecting a bearish bias.
For traders looking to capitalize on this trend, an entry below 5,730 could provide a viable short position, with profit-taking opportunities around 5,675, and a stop loss set at 5,764 to manage risk. As market sentiment remains fragile, further downside appears likely unless key resistance levels are breached.
Given these conditions, the S&P 500’s outlook remains tilted to the downside, with a strong test of support likely in the days ahead.
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S&P500 (SPX) Price Analysis and Trade Forecast: Daily Trading Signal
Daily Price Outlook
- Resistance & Support: Immediate resistance at $5,878; support firmly set at $5,800, then $5,727.
- EMA Influence: The 50-day EMA at $5,822 indicates resistance, aligning with a cautious outlook.
- Market Sentiment: RSI at 45 reflects moderate momentum, suggesting further caution ahead.
The S&P 500 (SPX) currently trades at $5,809.87, down 0.21% in a slightly bearish move. Positioned below the pivotal $5,835 level, the index signals potential downside if it fails to reclaim this threshold. Immediate support is nearby at $5,800, serving as a crucial level to watch; a break below may drive the SPX toward $5,762, with deeper support waiting at $5,727.
Technically, the 50-day EMA at $5,822 acts as short-term resistance and aligns with the pivot, suggesting the index may struggle to gain bullish momentum unless a clear break above occurs.
Beyond this, resistance lies at $5,878 and $5,913, levels that could attract sellers should the SPX attempt a rally. Currently, the RSI stands at 45, hinting at waning momentum and a cautious market sentiment, as the index hovers near support.
For traders eyeing entry, a buy limit around $5,800 with a take-profit at $5,877 offers a conservative approach, while a stop-loss at $5,770 protects against deeper declines. Given global market volatility, especially around inflationary data and central bank announcements, the SPX could see reactive moves as it tests these critical levels.
S&P 500 - Trade Ideas
Entry Price – Buy Limit 5800
Take Profit – 5877
Stop Loss – 5770
Risk to Reward – 1: 2.5
Profit & Loss Per Standard Lot = +$770/ -$300
Profit & Loss Per Mini Lot = +$77/ -$30
S&P500 (SPX) Price Analysis – Oct 25, 2024
Daily Price Outlook
The S&P 500 index is experiencing upward momentum, bolstered by positive economic indicators and a stabilizing dollar. It is currently trading at 5,809.86, recently reaching an intra-day high of 5,817.80. This surge reflects a strong sentiment in the equity markets, driven by positive economic indicators and investor optimism.
Positive Economic Data and Fed Expectations Fuel S&P 500 Growth
However, the recent stability of the U.S. dollar, alongside robust economic data, has provided a conducive environment for the S&P 500's ascent. Markets are responding favorably to the resilience demonstrated by the U.S. economy, which is reflected in the latest economic releases.
In the meantime, the expectations of a less aggressive Federal Reserve, particularly regarding rate cuts, have contributed to increased investor confidence. The Fed's potential moderation in its approach to monetary policy could bolster economic growth, further supporting equities.
Hence, this sentiment is echoed in the strong performance of key sectors within the S&P 500. As companies continue to report solid earnings and optimistic forward guidance, investors are increasingly willing to embrace risk, shifting their focus from safe-haven assets to equities.
Economic Data and Political Uncertainties Impacting S&P 500 Trading
Looking forward, traders keep an eye on the upcoming U.S. economic data, including Durable Goods Orders and the revised Michigan Consumer Sentiment Index. However, the positive figures could reinforce the notion of a resilient economy, prompting further buying activity in the S&P 500. Conversely, any unexpected downturn in these metrics may lead to volatility as traders recalibrate their strategies.
Moreover, the gains in the S&P 500 could be limited amid ongoing political uncertainties ahead of the November 5 presidential election. This uncertainty may prompt a cautious approach among traders as they navigate potential market shifts.
S&P 500 – Technical Analysis
The S&P 500 (SPX) currently trades at $5,809.87, down 0.21% in a slightly bearish move. Positioned below the pivotal $5,835 level, the index signals potential downside if it fails to reclaim this threshold. Immediate support is nearby at $5,800, serving as a crucial level to watch; a break below may drive the SPX toward $5,762, with deeper support waiting at $5,727.
Technically, the 50-day EMA at $5,822 acts as short-term resistance and aligns with the pivot, suggesting the index may struggle to gain bullish momentum unless a clear break above occurs.
Beyond this, resistance lies at $5,878 and $5,913, levels that could attract sellers should the SPX attempt a rally. Currently, the RSI stands at 45, hinting at waning momentum and a cautious market sentiment, as the index hovers near support.
For traders eyeing entry, a buy limit around $5,800 with a take-profit at $5,877 offers a conservative approach, while a stop-loss at $5,770 protects against deeper declines. Given global market volatility, especially around inflationary data and central bank announcements, the SPX could see reactive moves as it tests these critical levels.
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S&P500 (SPX) Price Analysis – Oct 18, 2024
Daily Price Outlook
The S&P 500 index is trading robustly around the 5,850 level, demonstrating a bullish trend driven by optimism in the market. Investors are reacting positively to expectations that major central banks will implement interest rate cuts. Lower interest rates generally enhance the attractiveness of equities as an investment choice, as they reduce borrowing costs and boost corporate profitability.
Alongside this, positive economic data from the U.S. has bolstered confidence. Strong retail sales and resilient job market indicators have painted a picture of economic strength, encouraging traders to buy into the market. The combination of low interest rates and solid economic indicators is encouraging investors to allocate more capital to the stock market, further driving the index upward.
Central Banks' Rate Cuts and Positive Economic Data Impact on the S&P 500
Central banks globally, including the Federal Reserve and the European Central Bank, are expected to implement interest rate cuts in response to weakening economic indicators. The prospect of lower rates typically supports equity markets as borrowing costs decline, making it cheaper for companies to invest and expand.
In the meantime, the recent economic data, such as better-than-expected retail sales and low initial jobless claims in the U.S., indicate a strong consumer base, which is crucial for economic expansion. On the data front, the US Census Bureau showed that retail sales increased by 0.4% in September, surpassing expectations of 0.3%. Furthermore, initial jobless claims fell to 241,000, lower than the anticipated 260,000.
Meanwhile, the Philadelphia Federal Reserve reported an increase in the business conditions index from 1.7 to 10.3 in October, beating consensus estimates. Traders are now focusing on upcoming US housing market data and Fed Governor Christopher Waller's speech for short-term trading opportunities.
Consequently, these factors are reinforcing the positive outlook for the S&P 500, making it an appealing option for investors seeking stability in their portfolios.
Geopolitical Uncertainty and Its Impact on the S&P 500 Index
Despite the positive trends, geopolitical uncertainties loom, impacting market sentiment around the S&P 500 index. Ongoing tensions in the Middle East and uncertainty surrounding the upcoming U.S. Presidential election have made investors wary. These geopolitical issues can lead to market volatility and may prompt investors to seek safe-haven assets, potentially impacting stock prices negatively.
However, the tight race between Donald Trump and Kamala Harris adds to the unpredictability, influencing traders' strategies. As geopolitical developments unfold, the S&P 500 could experience fluctuations, highlighting the need for investors to stay vigilant amid these uncertainties.
S&P 500 - Technical Analysis
The S&P 500 (SPX) is trading marginally lower at $5,841.48, marking a 0.02% decline in today's session. Despite the dip, the index remains in a consolidation phase, hovering around the key pivot point of $5,807.87. Immediate resistance is set at $5,878.04, with further hurdles at $5,912.64 and $5,939.55. A break above these levels could spark a bullish rally toward the $5,900 region, where traders may look to take profits.
On the downside, the immediate support level sits at $5,772.26, with additional support at $5,727.47 and $5,689.71. Should the index dip below these support zones, a steeper correction could be on the horizon, pushing prices toward the $5,600 range.
The 50-day Exponential Moving Average (EMA) is positioned at $5,775.78, offering solid support that aligns closely with the pivot point, reinforcing the current price consolidation. Meanwhile, the Relative Strength Index (RSI) is at 58, indicating neutral market conditions, with neither overbought nor oversold signals dominating. This suggests potential buying opportunities, particularly if prices hold above $5,828.
A technical breakout above $5,828 is expected to trigger a bullish trend, targeting $5,905 with a stop loss placed at $5,778. However, if prices slip below the immediate support, the outlook could turn bearish.
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S&P500 (SPX) Price Analysis and Trade Forecast: Daily Trading Signal
Daily Price Outlook
- The pivot point at $5,807.87 is crucial, with immediate resistance at $5,878.04.
- The 50-day EMA at $5,775.78 provides strong near-term support.
- RSI at 58 suggests neutral conditions, providing room for potential upward momentum.
The S&P 500 (SPX) is trading marginally lower at $5,841.48, marking a 0.02% decline in today's session. Despite the dip, the index remains in a consolidation phase, hovering around the key pivot point of $5,807.87. Immediate resistance is set at $5,878.04, with further hurdles at $5,912.64 and $5,939.55. A break above these levels could spark a bullish rally toward the $5,900 region, where traders may look to take profits.
On the downside, the immediate support level sits at $5,772.26, with additional support at $5,727.47 and $5,689.71. Should the index dip below these support zones, a steeper correction could be on the horizon, pushing prices toward the $5,600 range.
The 50-day Exponential Moving Average (EMA) is positioned at $5,775.78, offering solid support that aligns closely with the pivot point, reinforcing the current price consolidation. Meanwhile, the Relative Strength Index (RSI) is at 58, indicating neutral market conditions, with neither overbought nor oversold signals dominating. This suggests potential buying opportunities, particularly if prices hold above $5,828.
A technical breakout above $5,828 is expected to trigger a bullish trend, targeting $5,905 with a stop loss placed at $5,778. However, if prices slip below the immediate support, the outlook could turn bearish.
S&P 500 - Trade Ideas
Entry Price – Buy Above 5828
Take Profit – 5905
Stop Loss – 5778
Risk to Reward – 1: 1.5
Profit & Loss Per Standard Lot = +$770/ -$500
Profit & Loss Per Mini Lot = +$77/ -$50
S&P500 (SPX) Price Analysis and Trade Forecast: Daily Trading Signal
Daily Price Outlook
- Resistance Levels: Immediate resistance at $5,796.45, followed by $5,822.06 and $5,852.82.
- Support Levels: Immediate support at $5,734.58, with further support at $5,707.99 and $5,676.19.
- RSI at 60: Indicates bullish sentiment with potential for further gains, but overbought conditions could emerge if it surpasses 65.
The S&P 500 is currently trading at $5,780.04, down 0.21% for the day, as the index faces resistance around the $5,796.45 level. Despite the slight decline, the overall trend remains positive, with the index holding above the key pivot point at $5,762.91. A successful breakout above $5,796.45 could propel the S&P 500 toward the next resistance levels at $5,822.06 and $5,852.82, indicating potential for further gains.
On the downside, immediate support lies at $5,734.58, just above the 50-day Exponential Moving Average (EMA) at $5,733.94, which has historically provided strong support during pullbacks. A drop below this level could signal increased selling pressure, targeting further support at $5,707.99 and $5,676.19.
The Relative Strength Index (RSI) is currently at 60, suggesting that the market is approaching overbought territory but still has room for additional upside. If the RSI climbs above 65, it could indicate strengthening bullish momentum, reinforcing the likelihood of an upward move past the $5,796.45 resistance level.
If prices break above $5,796.45, expect the S&P 500 to test the $5,822.06 resistance level. Conversely, if the index falls below the $5,734.58 support, it could face further declines toward $5,707.99, potentially shifting the trend toward a bearish stance.
Overall, the outlook remains cautiously bullish as long as the S&P 500 holds above $5,734.58.
S&P 500 - Trade Ideas
Entry Price – Buy Above 5765
Take Profit – 5815
Stop Loss – 5735
Risk to Reward – 1: 1.6
Profit & Loss Per Standard Lot = +$500/ -$300
Profit & Loss Per Mini Lot = +$50/ -$30
S&P500 (SPX) Price Analysis – Oct 11, 2024
Daily Price Outlook
The S&P 500 index is currently experiencing a bearish trend, primarily due to three key factors. First, rising jobless claims, which recently reached 258,000, indicate a slowing labor market.
Second, inflation remains a concern, with the Consumer Price Index (CPI) rising by 2.4% year-over-year in September.
Lastly, increasing geopolitical tensions are adding uncertainty to the market. Together, these issues are contributing to a decline in investor confidence and a cautious outlook for the index.
U.S. Job Market Weakness and Its Implications for the S&P 500
On the U.S. front, the recent jobless claims data has raised concerns among investors, highlighting significant challenges in the labor market. The uptick in jobless claims suggests an increase in layoffs, which could lead to reduced consumer spending and lower corporate profits. This creates a mixed outlook for the S&P 500 index.
On one hand, a weakening job market might encourage the Federal Reserve to lower interest rates, potentially benefiting stocks. On the other hand, higher-than-expected inflation data complicates the situation, indicating that interest rates may stay elevated for longer than anticipated.
As a result, the weakness in the job market contradicts the idea of a strong economy, creating uncertainty about the future direction of the S&P 500. Investors are concerned about the implications of potentially high interest rates amid signs of economic stagnation.
This uncertainty may discourage investment in equities, further contributing to the index's bearish performance as market participants await clearer signals from the Federal Reserve and additional economic data.
Geopolitical Tensions Impacting S&P 500 Performance
Geopolitical tensions are further complicating the performance of the S&P 500. Recent developments in the Middle East, particularly Israel's intensified airstrikes on Hezbollah targets in Lebanon, have heightened concerns about regional stability.
These actions have resulted in significant casualties and have been accompanied by accusations of war crimes, escalating the crisis.
In response to such geopolitical instability, investors often seek safe-haven assets like gold, which can lead to reduced investment in equities and contribute to the S&P 500's downward trend.
S&P 500 - Technical Analysis
The S&P 500 is currently trading at $5,780.04, down 0.21% for the day, as the index faces resistance around the $5,796.45 level. Despite the slight decline, the overall trend remains positive, with the index holding above the key pivot point at $5,762.91.
A successful breakout above $5,796.45 could propel the S&P 500 toward the next resistance levels at $5,822.06 and $5,852.82, indicating potential for further gains.
On the downside, immediate support lies at $5,734.58, just above the 50-day Exponential Moving Average (EMA) at $5,733.94, which has historically provided strong support during pullbacks.
A drop below this level could signal increased selling pressure, targeting further support at $5,707.99 and $5,676.19.
The Relative Strength Index (RSI) is currently at 60, suggesting that the market is approaching overbought territory but still has room for additional upside.
If the RSI climbs above 65, it could indicate strengthening bullish momentum, reinforcing the likelihood of an upward move past the $5,796.45 resistance level.
If prices break above $5,796.45, expect the S&P 500 to test the $5,822.06 resistance level. Conversely, if the index falls below the $5,734.58 support, it could face further declines toward $5,707.99, potentially shifting the trend toward a bearish stance.
Overall, the outlook remains cautiously bullish as long as the S&P 500 holds above $5,734.58.
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S&P500 (SPX) Price Analysis and Trade Forecast: Daily Trading Signal
Daily Price Outlook
- Pivot Point Watch: S&P 500 remains neutral above the $5,677.51 pivot point.
- Resistance Levels: Immediate resistance at $5,730.39 could signal potential bullish continuation.
- Support Levels: A break below $5,648.18 support may trigger bearish momentum.
The S&P 500 (SPX) is trading at $5,699.95, a slight decline of 0.17% for the session, as market sentiment remains cautious ahead of key economic data. The index is hovering just above its pivot point at $5,677.51, signaling indecision among traders.
A breakout above immediate resistance at $5,730.39 could provide a bullish confirmation, with potential targets set at $5,763.04 and $5,792.65. This movement would suggest a recovery from the recent consolidation phase and could attract more buyers to the market.
On the downside, strong support is positioned at $5,648.18, followed by lower levels at $5,617.74 and $5,583.62. A break below these levels could trigger a bearish momentum, potentially pushing the index further down to retest these support zones. The 50-day Exponential Moving Average (EMA) at $5,709.35 is currently acting as an overhead resistance, limiting upward momentum in the near term.
The Relative Strength Index (RSI) stands at 46, indicating a neutral market position. This suggests that neither bulls nor bears have the upper hand, leaving the index in a wait-and-see mode. For traders, a buy entry is recommended above $5,676, with a take-profit target at $5,737 and a stop-loss set at $5,647.
S&P 500 - Trade Ideas
Entry Price – Buy Above 5676
Take Profit – 5737
Stop Loss – 5647
Risk to Reward – 1: 2
Profit & Loss Per Standard Lot = +$610/ -$290
Profit & Loss Per Mini Lot = +$61/ -$29
S&P500 (SPX) Price Analysis – Oct 4, 2024
Daily Price Outlook
Global market sentiment has been flashing red since the start of the day, and the week is set to conclude on a bearish note.
This is evident from the poor performance of U.S. stock indices, which began the session on a downbeat trajectory as investors grappled with rising geopolitical tensions and mixed economic data.
The S&P 500, Dow Jones Industrial Average, and Nasdaq Composite are all on track for weekly losses. Currently, the S&P 500 is trading around 5,699.94, having reached an intraday low of 5,677.37.
Geopolitical Tensions and Market Uncertainty Drag S&P 500 Lower
As we mentioned above, the global market has been pressured by ongoing geopolitical tensions, particularly in the Middle East, which are weighing on investor sentiment and contributing to the bearish performance of the S&P 500.
Recently, the conflict between Israel and Hezbollah has escalated, with Israeli forces expanding their military operations and targeting key Hezbollah sites. This intensifying conflict, along with fears of a broader regional war, is causing significant market uncertainty.
Therefore, the combination of rising geopolitical risks and mixed economic data is making investors cautious.
The S&P 500 has been tracking losses throughout the week, reflecting the growing concerns over global instability. The market, which had shown strong performance in the first nine months of the year, is now under pressure as these tensions continue to escalate, leading investors to move away from riskier assets.
This has contributed to the S&P 500’s recent dip, with further downside expected if the situation remains unresolved.
US Dollar Strength and Solid Labor Market Data Weigh on S&P 500
On the US front, the broad-based US Dollar (USD) has been gaining strength, trading close to a one-month high. This increase is due to reduced expectations for aggressive policy easing from the Federal Reserve (Fed). Recently, the US Department of Labor reported a slight rise in unemployment benefit claims, which increased to 225,000 for the week ending September 28, up from 218,000 the previous week. This uptick follows a larger-than-expected rise in private-sector employment and an unexpected increase in job openings for August, suggesting a stable labor market.
Besides this, the Institute for Supply Management (ISM) reported that its Non-Manufacturing PMI rose to 54.9 in September, the highest level since February 2023. This positive economic data is leading traders to focus on the upcoming Nonfarm Payrolls (NFP) report, expected to show an addition of 140,000 jobs in September, slightly down from 142,000.
In the meantime, the unemployment rate is projected to remain steady at 4.2%. These encouraging labor market indicators are dampening expectations for significant interest rate cuts by the Fed, which is creating challenges for the S&P 500 as investors reassess their risk exposure amid rising uncertainty.
S&P 500 - Technical Analysis
The S&P 500 (SPX) is trading at $5,699.95, a slight decline of 0.17% for the session, as market sentiment remains cautious ahead of key economic data. The index is hovering just above its pivot point at $5,677.51, signaling indecision among traders.
A breakout above immediate resistance at $5,730.39 could provide a bullish confirmation, with potential targets set at $5,763.04 and $5,792.65. This movement would suggest a recovery from the recent consolidation phase and could attract more buyers to the market.
On the downside, strong support is positioned at $5,648.18, followed by lower levels at $5,617.74 and $5,583.62. A break below these levels could trigger a bearish momentum, potentially pushing the index further down to retest these support zones.
The 50-day Exponential Moving Average (EMA) at $5,709.35 is currently acting as an overhead resistance, limiting upward momentum in the near term.
The Relative Strength Index (RSI) stands at 46, indicating a neutral market position. This suggests that neither bulls nor bears have the upper hand, leaving the index in a wait-and-see mode.
For traders, a buy entry is recommended above $5,676, with a take-profit target at $5,737 and a stop-loss set at $5,647.
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