S&P500 Consolidating in a Rectangle
S&P500 Consolidating in a Rectangle
The S&P500 has created a short rectangle just below the ATH. Support is the previous ATH at 5656 and resistance is at 5770. A break in either direction dictates the next move for the index but given the prior trend a break to the upside is far more likely than the alternative. 5872 is the implied target in case of an upside break and 5575 in case of a break lower.
If you want to learn more about the Trader Funding Program and join an elite group of traders at Forex Analytix, click here to learn more. Trade our money, take 75% of the gains and none of the risk.
20241009