FX.co ★ Technical Analysis of Intraday Price Movement of S&P 500 Index, Thursday June 27 2024.

Even though the condition of the S&P 500 index on the 4-hour chart appears to be in a sideways condition, the position of the EMA 20 which is above the EMA 50 indicates that Buyers are still dominant in this index, especially with the addition of the Momentum indicator forming a Double Bottom (blue circle) providing signal confirmation. which is positive if in the near future #SPX has the potential to appreciate up to the level of 5490.36 as the main target and if the momentum and volatility are supportive then 5515.18 will be the next target to be aimed at, but if on the way to these targets suddenly there is a correction which is quite significant in #SPX, especially if it it is broken below 5433.74 level, then all the strengthening scenarios described previously will become invalid and cancel automatically.

(Disclaimer)