SPX500 On the higher timeframes, the structure clearly shows a descending channel on both the 4H and Daily charts, with well-defined support and resistance levels.
The trend will flip bullish only if we get a full 4-hour candle close above 6630, which would signal a potential trend reversal.
Otherwise, the price is more likely to continue respecting the downward channel, targeting the following levels:
• 6580
• 6530
• 6460
