S&P 500 Price Bounce Up at $5349

Buyers are gaining strength in S&P 500 market

S&P 500 Price Analysis – 29 April

The S&P 500 may rise and hit the resistance levels of $5591, $5656, and $5681 if the $5505 position holds. The price may test the $5423 and $5349 possibilities if it breaches the $5505 support level.

Key Levels:

Resistance levels: $5591, $5656, $5681

Support levels: $5505, $5423, $5349

S&P 500 Long-term trend: Bullish

The S&P 500 Index’s daily chart is trending upward. Bears have controlled the market for almost two weeks. Since February 19, the indicator’s main driver has been subtractions. On February 18, there was another attempt to reach the $5349 milestone; if the request is approved, more visitors are anticipated. The performance double-bottom bullish reversal map pattern held up at $5349, and the buyers were able to temporarily halt additional price decreases by keeping the fixed price at the first suggested position. The S&P 500 increase to the $5505 barrier level from its $5349 position. Right now, the price is increasing towards $5591.

The S&P 500 may rise and hit the resistance levels of $5591, $5656, and $5681 if the $5505 position holds. The price may test the $5423 and $5349 possibilities if it breaches the $5505 support level. Both the Hull Suite crypto signals and the QQE MOD histogram indicate a purchase. Everything might proceed as planned.

S&P 500 Medium-term Trend: Bullish

The 4-hour plot of the S&P 500 shows an increasing trend. For the first week, the price has been unable to break above the $5681 hedge position due to the bears’ strong resistance. As the price has been falling, the bears have been steady at their assigned positions. Because of an engulfing candle pattern, the price is currently inclining toward $5591. Since the S&P 500’s bottom of $5349, its price has been inclining.

The Hull Suite guideline is less expensive than the S&P 500. A drop above zero in the QQE MOD crypto signals index indicates a strong buying signal.

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