empty
03.02.2025 12:15 AM
#SPX – Weekly Results and Prospects

This image is no longer relevant

January ended with a bullish candle, establishing a new all-time high at 6127.41. However, the index only reached this high with an upper shadow, failing to close above previous levels. It's worth noting that bears also updated last month's low, and the weekly close before the weekend reflected a dominance of uncertainty. These circumstances open the door for the market to break below the current support at 5948.42 (weekly short-term trend) and initiate a downward correction. If bullish activity resumes, the resistance zone near the psychological levels of 6250 – 6300 remains the primary target.

This image is no longer relevant

Last week, the index opened with a deep downward gap, which could not be fully closed by the daily candle's body, leaving only a shadow. If the daily short-term trend at 6021.10 ceases to act as support within this consolidation, the next critical levels for bears are 5948.42 (daily medium-term trend + weekly short-term trend) and the daily Ichimoku cloud support between 5943.52 and 5897.38. A break below these levels would create new opportunities for downward movement.

This image is no longer relevant

In the H4 timeframe, the bullish target of breaking above the H4 Ichimoku cloud at 6111.15 was achieved by the end of last week. As anticipated, the bulls took a pause afterward. This completed H4 target established a solid basis for a shift in sentiment. The bulls were unable to return to previous highs or continue their upward movement. Currently, the index is trading in a zone of equilibrium near the weekly long-term trend line at 6049.95, which has been moving horizontally for some time, indicating market indecision.

Trading above this trend line would favor a strengthening of bullish sentiment, while trading below it could create opportunities for bearish momentum to develop. The intraday movement will be guided by the classic pivot support and resistance levels, which are updated daily at market open.

***

Technical Analysis Components:
  • Higher Timeframes: Ichimoku Kinko Hyo (9.26.52) and Fibonacci Kijun levels
  • H1: Classic Pivot Points and 120-period Moving Average (weekly long-term trend)
Evangelos Poulakis,
Analytical expert of InstaForex
© 2007-2025
Select timeframe
5
min
15
min
30
min
1
hour
4
hours
1
day
1
week
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST

Recommended Stories

EUR/USD Forecast for March 13, 2025

Yesterday, U.S. inflation data indicated a slowdown in February, with core CPI at 2.8% year-over-year compared to 3.0% in January, which was also above the forecast of 2.9%. However

Laurie Bailey 04:13 2025-03-13 UTC+2

GBP/USD Forecast for March 13, 2025

By the end of yesterday, the British pound experienced a slight increase, continuing its overall upward trend. The price is attempting to reach the target level of 1.3001, while

Laurie Bailey 04:13 2025-03-13 UTC+2

USD/CAD Forecast for March 13, 2025

On the daily chart, both the price and the Marlin oscillator are forming triangles. If it weren't for the downward pressure from the MACD line, the trend would likely

Laurie Bailey 04:13 2025-03-13 UTC+2

Bitcoin Forecast for March 13, 2025

It seems that on March 11, the price established a new low, which is unlikely to be revisited in the near future, as a convergence with the Marlin oscillator

Laurie Bailey 04:13 2025-03-13 UTC+2

Forex forecast 12/03/2025: EUR/USD, USD/CAD, GBP/USD, Gold and Bitcoin

Useful links: My other articles are available in this section InstaForex course for beginners Popular Analytics Open trading account Important: The begginers in forex trading need to be very careful

Sebastian Seliga 14:01 2025-03-12 UTC+2

Trading Signals for GOLD (XAU/USD) for March 12-15, 2025: buy above $2,909 (21 SMA - 8/8 Murray)

On the H4 chart, we can see that gold has been consolidating below 2,930 and above 2,880-2,890 since late February. The metal will likely attempt to break the strong resistance

Dimitrios Zappas 14:00 2025-03-12 UTC+2

Trading Signals for EUR/USD for March 12-15, 2025: sell below 1.0950 (+2/8 Murray - 21 SMA)

The chart shows a technical correction. Hence, a technical rebound is expected in the coming hours around the 21 SMA. If a decline occurs, this suggests a buying opportunity with

Dimitrios Zappas 13:39 2025-03-12 UTC+2

EUR/USD. March 12th. The U.S.-Canada Trade War in Full Swing

On Tuesday, the EUR/USD pair secured itself above the 200.0% corrective level at 1.0857 and continued rising towards 1.0944, which bulls successfully reached

Samir Klishi 13:34 2025-03-12 UTC+2

GBP/USD. March 12th. Will Inflation Save the Dollar?

On the hourly chart, the GBP/USD pair on Tuesday rebounded from the 1.2865 level and rose above 1.2931. Today, consolidation below this level will favor some strengthening of the U.S

Samir Klishi 13:17 2025-03-12 UTC+2

EUR/USD and GBP/USD March 12 – Technical Analysis

The bulls have successfully broken out of the gravitational zone between 1.0819 and 1.0856, continuing their upward movement to reach the key levels of 1.0943 to 1.0948. Currently

Evangelos Poulakis 09:46 2025-03-12 UTC+2
Can't speak right now?
Ask your question in the chat.
Widget callback
 

Dear visitor,

Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.

If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.

Why does your IP address show your location as the USA?

  • - you are using a VPN provided by a hosting company based in the United States;
  • - your IP does not have proper WHOIS records;
  • - an error occurred in the WHOIS geolocation database.

Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaForex anyway.

We are sorry for any inconvenience caused by this message.