S&P 500 Price: $4813 Resistance Level Reached, What Else?

Price may pull back at $4813 level

S&P 500 Price Analysis – 02 January

S&P 500 can go quickly into the resistance levels of $4813, $4900, and $5000 if the $4723 level is held. The 70 rating on the period 14 relative strength index and the inclining trend of the signal line both point to a buy. The overall expenditure can be more than $4900.

Key Levels:

Resistance levels: $4813, $4900, $5000

Support levels: $4723, $4606, $4532

S&P 500 Long-term trend: Bullish

The S&P 500 Index is rising. On the S&P market, prices are fixed by sellers until October 27. The “W” chart’s pattern suggested a bullish reversal near the $4087 barrier level. Buying pressure caused the price to test and break above $4606, which it did on December 11.  The purchasers held onto the newly formed support level, and the S&P 500 rises to all-time highs when the price trend breaks over $4606 and $4723. It is currently towards the $4813 level.

S&P 500 can go quickly into the resistance levels of $4813, $4900, and $5000 if the $4723 level is held. The 70 rating on the period 14 relative strength index and the inclining trend of the signal line both point to a buy. The overall expenditure can be more than $4900.

S&P 500 Medium-term Trend: Bullish

Signals of strength are seen on the S&P 500’s four-hour chart. Because of the strong bulls’ momentum that emerged above the $4606 support level, the price is climbing above the $4723 resistance level. As the price has risen, the bulls have held fast to the previously established level. The bullish engulfing candle that emerged yesterday indicates that $4813, the current price goal, is reached.

The 21- and 9-period EMAs are less expensive than the S&P 500. The positive signal around 62 indicates that the Relative Strength Index is rising during period 14.

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