Categories: Technical analysis

S&P 500 Index Wave Analysis – 27 February 2025

– S&P 500 index broke support zone

– Likely to fall support level 5800.00

S&P 500 index recently broke the support zone between the key support level 5925.00 (low of the previous waves a and c), the support trendline of the daily up channel from September and the 61.8% Fibonacci correction of the upward impulse from January.

The breakout of this support zone accelerated the active short-term correction ii – which belongs to the higher raves 3 and (C).

S&P 500 index can be expected to fall to the next support level 5800.00, a low of the previous minor corrections a and 2.

The FxPro Tech Analysis Team

The FxPro technical experts prepare a daily analysis of the most active currency pairs (majors, crosses, exotics) and commodities. Selected instruments are reviewed on daily trends (D1, H4), using the active Elliott Wave setups, Japanese candlesticks, indicators, and support/resistance levels.

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The FxPro Tech Analysis Team
Tags: S&P 500

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