US500: Bearish Momentum Continues, Targeting Fresh Lows

Market Overview & Trend Analysis

Good morning, KoraFX community. Let's dig into the US500. The data is compelling: we are clearly in a bearish trend right now, a sentiment reinforced by the -0.34% change over the last 24 hours, currently trading around 6029.47. As many of you know, "the trend is your friend," and all signs point to continued downside pressure. We saw the US500 attempting to push higher, reaching 6060.26 within its day range, but it has since struggled to maintain momentum, failing to breach key resistance levels. This indicates a strong institutional order flow pushing prices lower.

Technical Levels & Intraday Setup

Looking at the technicals, the resistance at 6060.26 has held firm, proving to be a significant barrier for buyers. We also have further resistance at 6100 and 6150, but the immediate hurdle at 6060.26 is what's crucial for our intraday analysis. On the downside, the 6000 level, along with yesterday's low