S&P500 INDEX (SPX500): Waiting For Breakout
⚠️The SPX500 is consolidating near a strong horizontal resistance level on the hourly chart. It has formed a pattern resembling an inverted head and shoulders, indicating a potential bullish reversal.
A breakout above the neckline of the pattern, confirmed by a 1-hour candle closing above 5,231 - 5,256, is likely to trigger the next upward movement.
The targets for this bullish move are the resistance levels at 5,324 and 5,400.
A breakout above the neckline of the pattern, confirmed by a 1-hour candle closing above 5,231 - 5,256, is likely to trigger the next upward movement.
The targets for this bullish move are the resistance levels at 5,324 and 5,400.
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