S&P 500 Poised for Bullish Move Ahead of CPI Report

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S&P 500 Technical Analysis with Inflation Data:

U.S. futures remain steady ahead of the highly anticipated CPI report. The market is expected to be highly sensitive to the results. Current projections suggest the CPI will be around 2.5%, which would signal a weakening USD, potentially driving indices into a strong bullish trend. However, if the CPI comes in above 2.7% or 2.8%, the market movement could become unpredictable, with a possible downward shift.

The S&P 500 is currently trading above the pivot line of 5,453, with potential upside targets at 5,526 and 5,573. Conversely, if the price falls below 5,453, it increases the likelihood of a move toward 5,412, particularly if the CPI exceeds 2.7%.

• Key Levels:
  Pivot Point: 5460
  Resistance Levels: 5525, 5573, 5616
  Support Levels: 5436, 5412, 5360
  
  
• Expected Trading Range: 5412 - 5573
  
  
• Trend: Bullish as long as the price remains above 5,453.

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Update

The price reversed and stabilized at the bearish trend because already Core CPI m/m reached 0.3%
the bearish target is 5410 and breaking this point will be 5372 otherwise will move between 5409 and 5460