S&P 500 Analysis: Key Levels and Impact of CPI Release, To down!

S&P 500 Analysis

The price has dropped, breaking the trend line and stabilizing below the support zone.

As long as the price remains below 5783 this week, it is expected to target 5734 and 5693. If a 4-hour candle closes below 5693, the price could continue to drop toward 5643.
On the other hand, a daily candle closing above 5805 would signal a bullish move toward 5863.
Note: This week, the CPI release is anticipated to have a significant impact on market movements.

Key Levels
Pivot Point: 5781
Resistance Levels: 5822, 5863, 5893
Support Levels: 5734, 5693, 5643

Trend Outlook
Bearish Trend: Below 5783
Bullish Trend: Above 5805 (daily close required)