S&P 500 Price: Double Top Chart Pattern at $6099

S&P 500 Price Is Under Bearish Pressure

S&P 500 Price Analysis – 14 January

If the $5758 level holds, the S&P 500 can rise and split into the resistance levels of $5877, $6021, and $6099. The price may test the $5667 and $5578 levels if the $5758 support level is broken.

Key Levels:

Resistance levels: $5877, $6021, $6099

Support levels: $5758, $5667, $5578

S&P 500 Long-term trend: Bearish

The S&P 500 Index’s daily chart displays a downward trend. Since August 5, acquisitions have been the index’s main driver. On December 6, there was another attempt to reach the $6100 mark; once the concept is accepted, more clients are anticipated. The suppliers were able to temporarily halt further price increases by keeping the fixed price at the first level indicated, and the resulting double-top bearish reversal chart pattern held up over time. The S&P 500 jumps from the $6100 level to the $5877 support level.

If the $5758 level holds, the S&P 500 can rise and split into the resistance levels of $5877, $6021, and $6099. The price may test the $5667 and $5578 levels if the $5758 support level is broken. Both the Hull Suite crypto signals and the QQE MOD histogram indicate a sell. Perhaps everything will proceed as planned.

S&P 500 Medium-term Trend: Bearish

The 4-hour chart of the S&P 500 shows a declining trend. The price has been unable to break above the $6100 barrier level for the past week due to the bears’ strong activity. As the price has been falling, the bears have been steady at the predefined level. Last week, an engulfing candle pattern caused the price to rise once more to $5877. Since S&P 500 most recent peak of $6021, its price has been declining.

The Hull Suite indication is more costly than the S&P 500. When the QQE MOD indicator drops below zero, it indicates a strong sell signal.

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