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S&P 500 Futures Rise on Fed Rate Cut Bets as Powell Speech Looms
S&P 500 Index
Long
S&P 500 Futures Rise on Fed Rate Cut Bets as Powell Speech Looms
By SroshMayi
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Aug 20
8
Aug 20
Stock Index Futures Edge Higher on Fed Rate Cut Hopes, Powell's Speech in Focus
In yesterday’s session, Wall Street’s major indexes closed higher, with the S&P 500 reaching a 1-month high.
S&P 500 Technical Analysis
The price is currently consolidating between 5,584 and 5,620, awaiting a breakout.
Bullish Scenario:
If the price stabilizes above 5,620, confirmed by a 4-hour candle close, it could rise further toward 5,676.
Bearish Scenario:
If the price remains below 5,620, it could lead to a corrective move down to 5,584.
Key Levels:
- Pivot Line: 5,620
- Resistance Lines: 5642, 5675, 5700
- Support Lines: 5584, 5553, 5525
Today's Expected Trading Range: The price is expected to fluctuate between 5,584 and 5,675.
Trend: Bullish momentum with potential correction.
SPX (S&P 500 Index)
S&P 500 (SPX500)
Supply and Demand
Support and Resistance
Trend Analysis
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