Hello everyone,
The S&P 500 Index (SPX) continues to trade within a strong ascending channel structure on the 1H timeframe. After several BOS (Break of Structure) and ChoCH (Change of Character) signals, the price action confirms that buyers are still in control of the overall trend.
Currently, the index is holding above the 6,697 support zone, with a bullish push towards the upper channel resistance. If momentum sustains, the next upside target sits around 6,800 – 6,805, which aligns with the channel’s top boundary.
Two possible scenarios are developing:
Bullish Continuation: If price remains above 6,697 support, we may see further upside moves toward 6,800+ levels, continuing the broader bullish channel.
Retest & Bounce: If price corrects lower, a healthy retest into the 6,639 – 6,569 support area could provide fresh buying opportunities, as long as the structure respects the channel trendline.
Resistance: 6,800 – 6,805
Support: 6,697 / 6,639 / 6,569
Channel Trendline: Acting as dynamic support
Overall, the S&P 500 remains bullish in structure. Short-term pullbacks are expected but may serve as opportunities for buyers to rejoin the trend. Keep an eye on how price reacts at these critical support and resistance levels.
The S&P 500 Index (SPX) continues to trade within a strong ascending channel structure on the 1H timeframe. After several BOS (Break of Structure) and ChoCH (Change of Character) signals, the price action confirms that buyers are still in control of the overall trend.
Currently, the index is holding above the 6,697 support zone, with a bullish push towards the upper channel resistance. If momentum sustains, the next upside target sits around 6,800 – 6,805, which aligns with the channel’s top boundary.
Two possible scenarios are developing:
Bullish Continuation: If price remains above 6,697 support, we may see further upside moves toward 6,800+ levels, continuing the broader bullish channel.
Retest & Bounce: If price corrects lower, a healthy retest into the 6,639 – 6,569 support area could provide fresh buying opportunities, as long as the structure respects the channel trendline.
Resistance: 6,800 – 6,805
Support: 6,697 / 6,639 / 6,569
Channel Trendline: Acting as dynamic support
Overall, the S&P 500 remains bullish in structure. Short-term pullbacks are expected but may serve as opportunities for buyers to rejoin the trend. Keep an eye on how price reacts at these critical support and resistance levels.
Operación activa
Exención de responsabilidad
La información y las publicaciones que ofrecemos, no implican ni constituyen un asesoramiento financiero, ni de inversión, trading o cualquier otro tipo de consejo o recomendación emitida o respaldada por TradingView. Puede obtener información adicional en las Condiciones de uso.
Exención de responsabilidad
La información y las publicaciones que ofrecemos, no implican ni constituyen un asesoramiento financiero, ni de inversión, trading o cualquier otro tipo de consejo o recomendación emitida o respaldada por TradingView. Puede obtener información adicional en las Condiciones de uso.