Categories: Technical analysis

S&P 500 index Wave Analysis – 29 April 2025

S&P 500 index: ⬆️ Buy

– S&P 500 index broke key resistance level 5500.00

– Likely to rise to resistance level 5700.00

S&P 500 index recently broke the key resistance level 5500.00 (former support from March, which also stopped A-wave of the active ABC correction B from the start of April).

The breakout of the resistance level 5500.00 coincided with the breakout of the 50% Fibonacci correction of the downward impulse from February.

S&P 500 index can be expected to rise toward the next resistance level 5700.00, target price for the completion of the active impulse wave C.

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: spx

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