S&P 500 Dwindles Ahead of 4000 Key Barrier Level Amid Growth in US Treasury Yields


S&P 500 Price Analysis – March 31

The S&P 500 index rose to weekly highs of 3,983.4 on Monday, but the upside bias has dwindled ahead of the 4000 key barriers in the current session. The US 10-year Treasury yield stays firm around the highest since January 2020. Dollar and US yields will continue to rise due to strong economic results.

Key Levels
Resistance Levels: 4100, 4050, 4000
Support Levels: 3950, 3900, 3840
S&P 500 Long term Trend: Ranging
As seen on the daily, the uptrend may be expected to falter and stay beneath the 4000 levels, while the market is trading above the daily MA 5 and 13, consolidating further into the following session, which will be followed by re-attempting the resistance level at 4000.

The technical indicators are currently endorsing the ranging outlook as the RSI is heading toward its midline reading at 50 while the price turned lower after retracement from the weekly high at 3,983.4 marks. The moving averages 5 and 13 maintain their position and may move slightly horizontally in the medium-term outlook.
S&P 500 Short term Trend: Ranging
In the short-term, the S&P 500 index has been at the upside channel after it penetrated above the consolidation area of 3,950 levels at the close of the prior week. As the price jumped above the 3,950 barriers, the expectation is a retest of the record peak at the 3,991 levels before retreating.

However, an increased consolidation at the top and dwindling 4 hours Relative Strength Index warn of further weakness which would bring bears fully in play on a firm break of 3,950 pivots. The anticipated scenario is positioned beneath 3,900 levels with targets at 3,840 and 3,800 levels extension.

Note: Learn2.Trade is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit

Highly volatile unregulated investment products. No EU investor protection.

  • Trade top Cryptos such as Bitcoin, Litecoin and Ethereum plus more
  • Zero commissions and no bank fees on transactions
  • Around the clock service with support in 14 languages
$100 Min Deposit
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$200 Min Deposit
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
Share with other traders!

Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.