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US500DailyBearish

S&P 500 daily (SMC): sell the 7720–7790 zone

FXFibo editorial · · 1 min read
Summary

The daily structure in S&P 500 is bearish: a bearish break of structure (BOS) at 7616.4, with price now around 7577. The 7720–7790 area is the main sell zone.

BiasBearishEntry zone7750Stop loss7850Target 17450Target 27301StatusActive
Invalidation: Daily close above 7844
S&P 500 daily (SMC): sell the 7720–7790 zone

Main scenario

  • Entry zone: 7720–7790 (around 7750)
  • Stop: 7850
  • Targets: 7450 and 7301
  • Enter after candle confirmation or an aligned CHoCH on a lower timeframe

Alternative scenario

A daily close above 7844 invalidates the main scenario and opens the way to 7844.

Key levels

  • Resistance: 7723, 7764, 7844
  • Support: 7549, 7447, 7301

Market-moving events

  • Tue 10 Nov: US CPI
  • Thu 12 Nov: UK GDP and US jobless claims
  • Fri 13 Nov: US PPI and euro-area GDP
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⚠ This analysis is educational and is not a buy or sell recommendation. Trading financial markets carries the risk of losing capital.