S&P 500 Price: Bulls Oppose Bears at $5758 Level

S&P 500 Price may retest previous high at $6099

S&P 500 Price Analysis – 17 January

The S&P 500 can rise and resolve into the resistance situations of $6021, $6099, and $7035, If the $5877 position holds. The price may test the $5758 and $5667 situations if the $5877 support position is broken.

Key Levels:

Resistance levels: $6021, $6099, $7035

Support levels: $5877, $5758, $5667

S&P 500 Long-term trend: Bearish

The S&P 500 Index’s diurnal chart displays a downcast trend. Since August 5, accessions have been the indicator’s main motorist. On December 6, there was another attempt to reach the$ 6100 mark; once the conception is accepted, further guests are anticipated. The suppliers were suitable to temporarily halt farther price increases by keeping the fixed price at the first position indicated, and the performing double-top bearish reversal map pattern held up over time. The S&P 500 jumps from the $6100 position to the $5877 support position.

The S&P 500 can rise and resolve into the resistance situations of $6021, $6099, and $7035, If the $5877 position holds. The price may test the $5758 and $5667 situations if the $5877 support position is broken. Both the Hull Suite crypto signals and the QQE MOD histogram indicate a sell. maybe everything will  do as planned.

S&P 500 Medium-term Trend: Bearish

The 4- hour map of the S&P 500 shows an inclining trend. The price has been unfit to break below the $5758 hedge position for the once week due to the bulls’ strong opposition. As the price has been rising, the bulls have been steady at the predefined position. Last week, an engulfing candle pattern caused the price to rise formerly further to $6021. Since S&P 500 most recent low of $5758, its price has been inclining.

The Hull Suite suggestion is less expensive than the S&P 500. When the QQE MOD index rise above zero, it indicates a strong buy signal.

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