S&P 500 Technical Analysis: Bulls Okay Above These Price Levels. | Forexlive

The market (including Nasdaq) briefly and temporarily dipped, just a bit, on Friday. Only to full recover and more. Bulls still rule, as the follwing video ES Technical Analysis video demonstrates:

Quick S&P 500 Technical Analysis: Critical Levels to Monitor

The S&P 500 E-mini futures recently achieved a significant breakout, surpassing the previous all-time high at approximately 6,166 (blue line), initially set on February 25th. This critical milestone was breached around June 26th, coinciding with a clear breakout above a key descending red resistance line.

Following the breakout, a minor sell-off occurred last Friday, perfectly retesting and confirming the previously broken red resistance as new support at point number two. Since this retest, prices have steadily rebounded and currently hover around the semi-round psychological level of 6,250.

For near-term traders, two key price levels should be closely monitored:

• 6,229: Just below Friday’s Value Area High.

• 6,214: Friday’s closing VWAP, serving as a pivotal bullish benchmark.

The immediate bullish stance remains intact as long as prices hold above Friday’s VWAP at 6,214. However, traders should remain vigilant—two consecutive 4-hour candle closes below this VWAP could signal renewed bearish pressure, potentially leading to a retest of the red resistance-turned-support line. If this support fails, the next critical level to watch is the former all-time high at around 6,166.

June 2025 Price and VWAP Trends:

Throughout June 2025, both closing prices and the VWAP have exhibited consistent upward trends, reflecting positive market sentiment. Despite minor daily fluctuations, closing prices rose from a low of around 5939.75 on June 5 to a peak of 6253.25 on June 30. Concurrently, VWAP advanced from a low of 5924.08 on June 2 to 6243.83 on June 30. These consistent upward movements underscore an overall strengthening of market value.

Trade at your own risk, cautiously, manage your risk carefully, and have a successful trading week ahead.

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