S&P 500 Price Breaks Up $5580 Level, Targeting $5667

S&P 500 price is going higher

S&P 500 Price Analysis – 16 July

If the $5580 level holds, the S&P 500 may rise and split into the resistance levels of $5667, $5680, and $5710. The $5499 and $5413 support levels may be tested by the price if the $5580 support level is destroyed.

Key Levels:

Resistance levels: $5667, $5680, $5710

Support levels: $5580, $5499, $5413

S&P 500 Long-term trend: Bullish

The S&P 500 Index’s daily chart indicates an increasing trend. Since October of last year, the S&P 500 index has been largely driven by acquisitions. On April 1, there was another effort to break through the resistance level of $5413, which was just overcome. By maintaining the predetermined prices, the sellers are averting additional price increases. The cost increased to $5,580. As buyers attempt to break above the previously set barrier, prices are testing the $5667 mark, which is higher than the previous top.

If the $5580 level holds, the S&P 500 may rise and split into the resistance levels of $5667, $5680, and $5710. The $5499 and $5413 support levels may be tested by the price if the $5580 support level is destroyed. Both the Hull Suite crypto signals and the QQE MOD histogram suggest a buy. Maybe it will keep going in the right direction

S&P 500 Medium-term Trend: Bullish

The 4-hour chart of the S&P 500 shows trends in inclination. The extreme aggressiveness of the bulls has caused the price to break above the $5499 barrier level throughout the past two weeks. As the price has risen, the bulls have held fast to the previously established level. A bullish engulfing candle last week sent the price up to $5580. The $5580 pricing goal was accomplished. As of right now, bulls are trading above the previous high.

The Hull Suite indicator is less expensive than the S&P 500. There is a buy signal when the QQE MOD indicator is higher than zero.

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