5 SPY support and resistance levels to focus on
5 $SPDR S&P 500 ETF Trust(SPY)$ support and resistance levels to focus on 🧵
1. Massive supply area (selling pressure zone) above $610-$612
2. $600 level is a big demand zone and 50SMA on daily chart
3. Common gap at from $585-$590 (most likely will get filled quickly)
4. Recent bounce at $575-$578 area
5. $568 area is the 200SMA on daily chart and massive area of support. If we test this area under $570 even a little bit. I'd go long 9/10 times here.
You can choose options for SPY $600 for June 2025 or for a quick swing $580 for March 2025.
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