US500, Daily
In the Daily timeframe, the US500 is in a long-term bullish trend, regularly updating the high and forming an ascending channel pattern. The price has reached the 161.8 Fibonacci resistance area and is consolidating. Despite the bullish sentiment, a correction to the trend line is possible.
- If the bulls push the price above 5500, the target could be the level of 5700;
- A rebound from resistance could drop US500 to support at 5300;
