SP500 Technical Analysis ES1! futures S&P 500 Index 5-25-23
Today’s Market Overview:
Yesterday at the market opening, we saw the index attempting to stabilize, then continuing its movement to the 4140 level, which I previously mentioned. However, the index growth turned out to be more energetic than I anticipated, reaching its peak around 4165. Following this, a correction began, which might conclude with a further decrease to the 4095-4075 range. This is where we should seek opportunities to open long positions.
Currently, we are witnessing a stabilization of the market movement. If there is a shortage of new sellers, we could see the index continue to rise to the 4190 level.
It is precisely at the 4190 level that I am observing a large number of orders from major speculators who wish to push the index down to the 4095 and 4070 levels.
Thus, speaking about key levels, today we can highlight two important levels: 4190 and 4095.
If you didn’t see my analysis yesterday, you can check it out here.
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