The S&P 500 Index (SPX6900) continues to decline, currently trading around $0.2757 under strong selling pressure. The index has broken below the key support level of $0.32, with the 20-day moving average (EMA) at approximately $0.3015 and the 50-day moving average at around $0.3059 forming dynamic resistance. The Relative Strength Index (RSI) has fallen to 25.56, indicating severe market oversold conditions, which could attract buyers and push the price to rebound toward $0.2795, followed by a test of the resistance at $0.2989. However, the overall bearish structure remains solid. If the $0.27 support area cannot be maintained, the price may decline to the next structural support around $0.2669.
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The S&P 500 Index (SPX6900) continues to decline, currently trading around $0.2757 under strong selling pressure. The index has broken below the key support level of $0.32, with the 20-day moving average (EMA) at approximately $0.3015 and the 50-day moving average at around $0.3059 forming dynamic resistance. The Relative Strength Index (RSI) has fallen to 25.56, indicating severe market oversold conditions, which could attract buyers and push the price to rebound toward $0.2795, followed by a test of the resistance at $0.2989. However, the overall bearish structure remains solid. If the $0.27 support area cannot be maintained, the price may decline to the next structural support around $0.2669.