7,440 Remains the Key Level!US SPX 500OANDA:SPX500USDinchartswetrustHello, traders! A very brief update on the index today. 🎯💰 The main event was the precise hit of the 7,300 target, followed by a strong reaction from buyers at that level. The rebound looks solid, but the next major level to watch is 7,440, which I’ve mentioned several times before. This area could act as significant resistance and slow the current recovery. 🟢 The green arrows on the chart highlight previous reactions to this level (when price approached it from above), so it shouldn’t be ignored. In addition, the upper boundary of the local descending channel is currently aligned with 7,440. Although it’s only a local channel, it may also temporarily limit further upside. Other than that, all scenarios remain unchanged. 🐻🪓 As long as SPX remains below 7,440, my downside targets stay the same: - 7,380 — local swing low. - 7,300 — horizontal support + 1D EMA 100. - 7,000 — previous all-time high. 🦬🚀 A confirmed breakout and hold above 7,440 would bring the bullish scenario back into play, with upside targets at 7,555 and then the ATH at 7,625. Peace! 🌄