Bulls are mounting pressure on bears
S&P 500 Price Analysis – 25 March
If the $5758 position holds, the S&P 500 may climb and go into the resistance levels of $5875, $6019, and $6144. If the price breaks through the $5758 support level, it might test the $5675 and $5579 possibilities.
Key Levels:
Resistance levels: $5875, $6019, $6144
Support levels: $5758, $5675, $5579
S&P 500 Long-term trend: Bullish
The daily chart of the S&P 500 Index is showing a signal of trending upward. For more than two weeks bears have been ruling its world. The primary driver of the indicator since February 19 has been additions. Another attempt to attain the $6019 milestone was made on February 18; additional visitors are expected if the request is granted. The performance double-bottom bullish reversal map pattern held up at $5579, and the suppliers were able to temporarily stop further price decrease by maintaining the fixed price at the first site specified. The S&P 500 rises to the $5758 barrier level from its $5579 position. The price is currently inclining in the direction of $5875.
If the $5758 position holds, the S&P 500 may climb and go into the resistance levels of $5875, $6019, and $6144. If the price breaks through the $5758 support level, it might test the $5675 and $5579 possibilities. The QQE MOD histogram and the Hull Suite crypto signals both point to a buy. It may all go according to plan.
S&P 500 Medium-term Trend: Bullish
The S&P 500’s 4-hour graphic displays an upward trend. The bears’ strong resistance has prevented the price from breaking above the $6019 hedge position for the first week. The bears have remained stable at their designated positions as the price has been declining. The price is currently falling toward $5675 due to an engulfing candle pattern. The price of the S&P 500 has been falling ever since it peaked at $6144.
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