US500: Important test of the uptrend!

US500, Daily

The asset is in an uptrend, but after testing the resistance level, the price began to decline. The index is now testing the uptrend at 5935.

If the asset fails to break through the support level of 5935 and the upward trend level, growth will resume toward the resistance level 6040.

However, if the support level and upward trend level are broken, the decline will continue towards 5800.

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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