S&P 500 Price Analysis – July 26
S&P 500 may penetrate resistance level at $4019 upside, and further increase envisaged towards $4087 and $4169 levels. Below the price at the moment are support levels at $3927, $3832, and $3740.
Key levels:
Resistance levels: $4019, $4087, $4169
Support levels: $3927, $3832, $3740
S&P 500 Long-term trend: Bullish
S&P 500 is bullish on the daily chart. When Bears pushed the price to the support level at $3740 on June 16.The price action formed a chart pattern called a short “W” on the daily chart in the S&P 500 market which triggers a bullish trend. The resistance levels of $3872 and $3929 have been broken upside. The price is currently pulling back before bullish trend continues.
S&P 500 is trading above the 9 periods EMA and the 21 periods EMA which connote an increase in the buyers’ momentum. S&P 500 may penetrate resistance level at $4019 upside, and further increase envisaged towards $4087 and $4169 levels. Below the price at the moment are support levels at $3927, $3832, and $3740. The relative strength index period 14 is at 56 levels with the signal lines pointing up to indicate buy signal.
S&P 500 Medium-term Trend: Bullish
On the 4-hour chart outlook, S&P 500 is on the bullish movement. The bullish chart pattern called Double bottom formed in 4 hour chart. When the support level of $3649 was tested and bears could not penetrate the level downside. The bulls reacted against the bearish movement and the price broken up the resistance level of $3832 level. The resistance level of $4019 may be broken upside today.
The price is trading above the 9 periods EMA and 21 periods EMA as an indication of bullish movement. The relative strength index period 14 is at 60 levels displaying bullish signal.
You can purchase Lucky Block – Guide, Tips & Insights | Learn 2 Trade here: Buy LBLOCK
- Broker
- Min Deposit
- Score
- Visit Broker
- Award-winning Cryptocurrency trading platform
- $100 minimum deposit,
- FCA & Cysec regulated
- 20% welcome bonus of upto $10,000
- Minimum deposit $100
- Verify your account before the bonus is credited
- Fund Moneta Markets account with a minimum of $250
- Opt in using the form to claim your 50% deposit bonus
