The S&P 500 is rebounding from the support trendline of the rising wedge pattern, with the Ichimoku Cloud acting as support and indicating strength. A breakout above the resistance trendline could lead to a new all-time high. however, rejection at resistance may result in a pullback. Keep an eye on further price action developments. Given its close correlation with the #crypto market, the S&P’s next #move will be crucial in determining broader risk sentiment, making this a key level to monitor closely. #crypto
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
#S&P 500 ANALYSIS
The S&P 500 is rebounding from the support trendline of the rising wedge pattern, with the Ichimoku Cloud acting as support and indicating strength. A breakout above the resistance trendline could lead to a new all-time high. however, rejection at resistance may result in a pullback. Keep an eye on further price action developments. Given its close correlation with the #crypto market, the S&P’s next #move will be crucial in determining broader risk sentiment, making this a key level to monitor closely. #crypto