US500 Breaks Out and Aims Higher

[TradingPuzzles]

US500 Breaks Out and Aims Higher

Since the start of October, the US500 has been moving inside a large bullish pattern, showing signs of accumulation. Now, it looks ready to rise again, supported by expectations that the FOMC will continue with its rate cut plans in the upcoming meetings.

The FOMC minutes released yesterday also confirmed support for a 25 bps rate cut, adding strength to market optimism.

Recently, the US500 broke out of the bullish pattern, suggesting more upside potential ahead.
For now, the next targets are around 6780 and 6800.

You may find more details in the chart!
Thank you and Good Luck!