SPX500 | Risk Sentiment Weakens After Precious Metals Selloff
SPX500 | Pressure Builds as Precious Metals Selloff Shakes Risk Appetite
U.S. stock index futures moved lower as a violent selloff in precious metals unsettled investor sentiment at the start of a week packed with corporate earnings and key economic data. The abrupt reversal in metals has raised broader risk concerns, keeping equity markets cautious ahead of major catalysts.
With volatility elevated, traders are focusing on technical confirmation for the next directional move.
Technical Outlook
The index continues to trade below the 6918 pivot, maintaining a bearish structure.
As long as price remains below 6918, downside pressure is expected toward 6877.
A break below 6877 would confirm bearish continuation, exposing further downside toward 6845, followed by 6798.
On the upside, a 4H candle close above 6918 would invalidate the bearish bias and support a recovery toward 6941, with further upside toward 6988.
Key Levels
Pivot: 6918
Support: 6877 – 6845 – 6798
Resistance: 6941 – 6988