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S&P 500 Wave Analysis – 16 May 2025

S&P 500: ⬆️ Buy– S&P 500 broke the resistance level 5900.00– Likely to rise to resistance level 6100.00S&P 500 index recently broke the resistance level 5900.00, the former support from January and February.The breakout of the resistance level 5900.00 should accelerate the ac…

UpdatedMay 17, 2025
1 mins read

S&P 500: ⬆️ Buy

– S&P 500 broke the resistance level 5900.00

– Likely to rise to resistance level 6100.00

S&P 500 index recently broke the resistance level 5900.00, the former support from January and February.

The breakout of the resistance level 5900.00 should accelerate the active short-term impulse wave 3, which belongs to the intermediate impulse wave (3) from the end of April.

S&P 500 index can be expected to rise to the next resistance level 6100.00, which reversed the price multiple times from December to March, as can be seen below.

Source: https://fxpro.news

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