US500 Important moment!

US500, Daily

The US500 index is in a local uptrend. The price approached the key resistance level - 5700, and it is here that the further fate of the movement is decided. MACD confirms the strength of the bulls, indicating a steady growth momentum.

If the price manages to break the resistance level, we should expect a rise to 5785 and the maximum upside potential to 6140;

However, if the price fails to break through the resistance level, it will decline to 5510.

Trading foreign currencies on margin involves significant risks and may not be suitable for everyone, as high leverage can increase both potential gains and losses. Before entering the foreign exchange market, it is essential to evaluate your investment goals, personal experience, and risk tolerance.

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Author: FBS Analyst Team

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