SPX is forming a clear series of higher lows while compressing beneath long-term descending resistance. The recent pullback from the upper trendline did not break structure, and buyers once again stepped in around the ascending support zone.
What stands out here is the developing double bottom formation around the 0.25 region, followed by a strong recovery and continued respect of the rising trendline. This suggests accumulation rather than distribution.
Price is now trapped inside a tightening triangle between 0.33 support and 0.49 resistance. The longer this compression continues, the more significant the eventual breakout is likely to be.
A decisive break above the descending resistance would confirm a major trend reversal and could trigger a powerful expansion toward higher time-frame targets.
Key Levels
🟢 Support: 0.3294 → 0.3103 → 0.2528
🔴 Resistance: 0.4911
📈 Bias: Bullish while holding above ascending support
⚠️ Triangle compression nearing completion. A breakout above 0.49 could mark the start of a larger upside trend.
What stands out here is the developing double bottom formation around the 0.25 region, followed by a strong recovery and continued respect of the rising trendline. This suggests accumulation rather than distribution.
Price is now trapped inside a tightening triangle between 0.33 support and 0.49 resistance. The longer this compression continues, the more significant the eventual breakout is likely to be.
A decisive break above the descending resistance would confirm a major trend reversal and could trigger a powerful expansion toward higher time-frame targets.
Key Levels
🟢 Support: 0.3294 → 0.3103 → 0.2528
🔴 Resistance: 0.4911
📈 Bias: Bullish while holding above ascending support
⚠️ Triangle compression nearing completion. A breakout above 0.49 could mark the start of a larger upside trend.
Market Structure • Price Action • Crypto Updates
🔗 Telegram: t.me/Coach
🔗 Telegram: t.me/Coach
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Market Structure • Price Action • Crypto Updates
🔗 Telegram: t.me/Coach
🔗 Telegram: t.me/Coach
Отказ от ответственности
Информация и публикации не предназначены для предоставления и не являются финансовыми, инвестиционными, торговыми или другими видами советов или рекомендаций, предоставленных или одобренных TradingView. Подробнее читайте в Условиях использования.