SPX: Bearish Rejection & Potential Pullback to Support 📉
Description:
The S&P 500 (SPX) is showing signs of a bearish rejection at the upper supply zone on the 1-hour timeframe. After failing to sustain momentum above the recent high, the price has initiated a downward move, breaking below immediate structural support. We are now monitoring the development of this pullback as the index approaches the identified demand zones, which are likely to act as key support levels for potential stabilization or buyer intervention.
Key Structural Levels:
🔴 Major Resistance / Invalidation Zone: 7,560 – 7,585
📈 Current Reaction Level: 7,533
🔵 1st Support Objective: 7,460
🔵 2nd Support Objective: 7,348
Trading Perspective:
We are looking for a continuation of the current bearish flow toward the 1st Support zone. If the price fails to find significant demand at these levels, it could signal a deeper retracement. Traders should monitor price action closely as we approach these objectives to identify signs of absorption or reversal.
This analysis is based on technical structure and market behavior, not financial advice.
Description:
The S&P 500 (SPX) is showing signs of a bearish rejection at the upper supply zone on the 1-hour timeframe. After failing to sustain momentum above the recent high, the price has initiated a downward move, breaking below immediate structural support. We are now monitoring the development of this pullback as the index approaches the identified demand zones, which are likely to act as key support levels for potential stabilization or buyer intervention.
Key Structural Levels:
🔴 Major Resistance / Invalidation Zone: 7,560 – 7,585
📈 Current Reaction Level: 7,533
🔵 1st Support Objective: 7,460
🔵 2nd Support Objective: 7,348
Trading Perspective:
We are looking for a continuation of the current bearish flow toward the 1st Support zone. If the price fails to find significant demand at these levels, it could signal a deeper retracement. Traders should monitor price action closely as we approach these objectives to identify signs of absorption or reversal.
This analysis is based on technical structure and market behavior, not financial advice.
Trade active
1ST TARGET DONE TRADE ACTIVETrade closed: target reached
All most ALL TARGET DONE
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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.
Looking for intraday signals on Forex and XAUUSD (GOLD)? Join now our brand new group.
telegram.me/GoldPremiumClub032
We're a group of experienced UK traders with over 11 years of experience.🇬🇧
telegram.me/GoldPremiumClub032
We're a group of experienced UK traders with over 11 years of experience.🇬🇧
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.