S&P 500 Price Breaks Up All Time High at $5877 Level

Buyers’ pressure is increasing

S&P 500 Price Analysis – 12 November

The S&P 500 may increase and divide into the resistance levels of $6014, $6054, and $6095 if the $5877 level holds. If the $5877 support level is breached, the price can test the $5758 and $5667 levels.

Key Levels:

Resistance levels: $6014, $6054, $6095

Support levels: $5877, $5758, $5667

S&P 500 Long-term trend: Bullish

The daily chart of the S&P 500 Index shows an upward trend. Acquisitions have been the index’s primary driver since August 5. Another attempt to hit the $5758 milestone was made on October 9. After the proposal was accepted, more people rejected it. The vendors were able to avoid further price increases temporarily. By maintaining the previously established pricing at the previously stated level. The resulting double-bottomed bullish reversal chart pattern was sustainable. The S&P 500 is now trading higher than it was only a short while ago at $5877.

The S&P 500 may increase and divide into the resistance levels of $6014, $6054, and $6095 if the $5877 level holds. If the $5877 support level is breached, the price can test the $5758 and $5667 levels. The QQE MOD histogram and the Hull Suite crypto signals both point to a buy. It might proceed as anticipated.

S&P 500 Medium-term Trend: Bullish

The S&P 500’s 4-hour chart displays an inclination pattern. The price was unable to break below the $5667 barrier level due to the bulls’ intense activity throughout the previous two weeks. The bearulls have maintained the previously set level while the price has been inclining. An engulfing candle pattern caused the price to bounce up at $5758 last week. Bulls are currently trading above $5877, the previous high.

The S&P 500 is more expensive than the Hull Suite indicator. A strong buy signal is indicated when the QQE MOD indicator rises above zero.

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