3 min readS&P500 (SDX):
After breaking into all-time highs on the S&P 500, the price has been consolidating just above the prior resistance zone. With rising geopolitical tensions and economic uncertainty ahead, I’ll be closely watching to see if these newly formed support areas hold should the price begin to pull back. Additionally, there’s an ascending trend line that could serve well as a support level if a downward move occurs.
Taking a closer look at the technicals reveals room for a potential pullback if the price begins to move lower. However, if the price continues pushing to new highs, I’ll be watching the RSI indicator closely, focusing on the 70% level as a signal for potential overbought conditions. Currently, we are trading just above $5,700.00.
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The financial products offered by the Company are complex and come with a high risk of losing money rapidly due to leverage. These products may not be suitable for all investors. Before engaging, you should consider whether you understand how these leveraged products work and whether you can afford the high risk of losing your money.
The Company does not accept clients from the Restricted Jurisdictions as indicated in our website/ T&C. Some services or products may not be available in your jurisdiction.
The applicable legal entity and its respective products and services depend on the client’s country of residence and the entity with which the client has established a contractual relationship during registration.
