S&P 500 Price Bounces Off at $6906 Barrier Point

S&P 500 May continue falling

S&P 500 Price Analysis – 16 December

The S&P 500 may hit the resistance levels of $6906, $6950, and $7020. This is based on the $6757 position staying the same. If the price breaks through the $6757 support level, it might attack the $6589 and $6473 possibilities.

Key Levels:

Resistance levels: $6906, $6950, $7020

Support levels: $6757, $6589, $6473

S&P 500 Long-term trend: Bearish

The S&P 500 Index is trending downward on its daily chart. For nearly three months, bulls have dominated the market. Since February 19, the indicator’s primary driver has been subtractions. On September 6, a second attempt was made to reach the $6757 milestone; further visits were made, and the request was granted this time. By maintaining the fixed price at the first recommended position, the purchasers were able to momentarily halt further price rise, and the double-top bearish reversal map pattern held steady at $6950. The S&P 500 increased from $6155 to the barrier level of $6906. Pricing is currently having difficulty rising above the predetermined threshold.

The S&P 500 may hit the resistance levels of $6906, $6950, and $7020. This is based on the $6757 position staying the same. If the price breaks through the $6757 support level, it might attack the $6589 and $6473 possibilities. Both the QQE MOD histogram and the Hull Suite cryptocurrency signals point to selling. Everything may go down.

S&P 500 Medium-term Trend: Bearish

The S&P 500’s 4-hour graph is decreasing. Because of the bears’ strong support, the price hasn’t increased above the $6906 hedge position for the first week. The bulls have remained stable at their designated levels while the price has been climbing. Due to an engulfing candle pattern, the price is currently decreasing quickly toward $6757. Since the S&P 500 rebounded from $6906, its valuation has been decreasing.

The Hull Suite guideline is more expensive than the S&P 500. A strong selling signal is provided when the QQE MOD index rises below zero.

Start using a world-class auto trading solution

 You can purchase Lucky Block here.  Buy LBLOCK