On Friday, Israel attacked Iranian territory, escalating the long-standing covert conflict between the two arch-enemies into overt hostilities, raising the risk of wider regional conflict, according to sources.
Meanwhile, the CBOE Volatility Index (VIX), often referred to as Wall Street's "fear gauge," increased by 1.42 points, reaching 19.42, marking its highest point in over five months.
Technically:
The price of the SPx fell and hit our previously stated target, influenced by the tensions in the Middle East.
Looking ahead, it is expected to approach the resistance levels at 5020 and 5044, after which it may begin a downward trend towards 4953 or lower.
Should it remain stable above 5044, the SPx is likely to maintain its bullish momentum for the day.
Pivot line: 5019
Resistance Prices: 5044, 5080, 5140
Support Prices: 4965, 4907, 4876
The movement range will be between support 4953 and Resistance 5080
previous idea:
Meanwhile, the CBOE Volatility Index (VIX), often referred to as Wall Street's "fear gauge," increased by 1.42 points, reaching 19.42, marking its highest point in over five months.
Technically:
The price of the SPx fell and hit our previously stated target, influenced by the tensions in the Middle East.
Looking ahead, it is expected to approach the resistance levels at 5020 and 5044, after which it may begin a downward trend towards 4953 or lower.
Should it remain stable above 5044, the SPx is likely to maintain its bullish momentum for the day.
Pivot line: 5019
Resistance Prices: 5044, 5080, 5140
Support Prices: 4965, 4907, 4876
The movement range will be between support 4953 and Resistance 5080
previous idea:
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~6 analyses per day. With a clear entry point
more than 1000 pip per week —— Accuracy +88%
SM World and Economy News 24/7
Urgent News ⚡️:
t.me/SM_News_24h
