S&P 500 Price: Bearish Trend May Continues Below $5875 Level

Sellers are dominating S&P 500 market

S&P 500 Price Analysis – 04 March

The S&P 500 may rise and enter the resistance levels of $5875, $6019, and $6144 if the $5758 position holds. The price may test the $5667 and $5578 possibilities if it breaches the $5758 support level.

Key Levels:

Resistance levels: $5875, $6019, $6144

Support levels: $5758, $5667, $5578

S&P 500 Long-term trend: Bearish

For over two months, the S&P 500 Index’s daily chart has been trending upward. Since August 5, additions have been the indicator’s main mover. On December 6, there was another attempt to reach the $6144 milestone; if the request is approved, more visitors are anticipated. By keeping the fixed price at the first location designated, the suppliers were able to temporarily halt additional price increases, and the performance double-top bearish reversal map pattern held up over time. From its $6019 position, the S&P 500 jumps to the $6144 barrier level. At the moment, the price is dropping toward the $5758 mark.

The S&P 500 may rise and enter the resistance levels of $5875, $6019, and $6144 if the $5758 position holds. The price may test the $5667 and $5578 possibilities if it breaches the $5758 support level. Both the Hull Suite crypto signals and the QQE MOD histogram indicate a sell. Everything might proceed as planned.

S&P 500 Medium-term Trend: Bearish

The 4-hour plot of the S&P 500 shows a decreasing trend. For the first week, the price has been unable to break above the $6144 hedge position due to the bears’ strong resistance. As the price has been falling, the bears have been steady at their assigned positions. At the moment, an engulfing candle pattern caused the price to drop towards $5758. Since the S&P 500’s most recent peak of $6146, its price has been declining.

The Hull Suite advice is more costly than the S&P 500. A drop below zero in the QQE MOD index indicates a strong selling signal.

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