SroshMayi

SPx (Stock Index Futures Climb as Fed Rate Cut Hopes Grow)

OANDA:SPX500USD   S&P 500 Index
S&P 500 INDEX SPX500USD New Forecast

The price has breached the resistance zone and continues its upward trajectory, aiming to reach 5249. We anticipate a minor correction to 5225 before the price ascends further towards 5249, and potentially beyond to 5280. Conversely, a consolidation below the levels of 5224 and 5218 could indicate a downward movement towards 5196 and 5177.

Pivot Line: 5224
Resistance Levels: 5249, 5280, 5302
Support Levels: 5196, 5177, 5150

Today’s expected trading range is between the support 5196 and the resistance 5280.

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