S&P 500 Price: Buyers May Retest Previous High of $5667 Level

Buyers are dominating S&P 500 market

S&P 500 Price Analysis – 20 August

The S&P 500 may increase and split into the resistance levels of $5667, $5765, and $6005 if the $5580 level holds. If the $5580 support level is destroyed, the price can test the $5500 and $5418 support levels.

Key Levels:

Resistance levels: $5667, $5765, $6005

Support levels: $5580, $5500, $5418

S&P 500 Long-term trend: Bullish

The daily chart of the S&P 500 Index shows an upward trend. The S&P 500 index has been primarily driven by acquisitions since 05 August. Another attempt was made on August 13 to break through the $5500 barrier. This project was on the verge of blessing. The buyers prevented further price fall by sticking to the set prices. That ended up being $5,667 as the target of the buyers at the moment. Price increases above $5580, towards the previous peak, as buyers try to break through the previously established barrier.

The S&P 500 may increase and split into the resistance levels of $5667, $5765, and $6005 if the $5580 level holds. If the $5580 support level is destroyed, the price can test the $5500 and $5418 support levels. The QQE MOD histogram and the Hull Suite crypto signals both point to a buy. Perhaps it will continue on the correct path.

S&P 500 Medium-term Trend: Bullish

The S&P 500’s 4-hour chart reveals patterns of incline. The price could not break below the $5122 barrier level as a result of the bulls’ intense activity throughout the previous two weeks. The bulls have managed to hang on to the previously set level while the price inclines. The price rise to $5580 last week as a result of an engulfing bullish candle. The $5667 price level is the target. Bulls are currently trading above $5580 level.

Compared to the S&P 500, the Hull Suite indication is less expensive. When the QQE MOD indicator is more than zero, a buy signal is clearly visible.

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