SPX broke its previous resistance, potential for further upside

Price is facing bullish pressure from our pivot, in line with our horizontal pullback support level and 38.2% fibonacci retracement level where we could see a further upside above this level. Failure to hold above our pivot level at 3894.4 could see drop towards our first support target at 3828.9. Ichimoku cloud and EMA are showing signs of bullish pressure as well, in line with our bullish bias.

Pivot: 3894.4
Supporting Points:
horizontal pullback support level and 38.2% fibonacci retracement level

1st Support: 3828.9
Supporting Points:
Horizontal overlap support level and 100% fibonacci extension

1st Resistance: 4016.2
Supporting Points:
-27.2% Fibonacci retracement

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