S&P 500 Price Finding It Difficult to Overcome $6906 Barrier

S&P 500 Price Analysis – 18 November

The S&P 500 may hit the resistance levels of $6906, $6950, and $7020. This is based on the $6757 position staying steady. The price may test the $6589 and $6473 possibilities if it breaks through the $6757 support level.

Key Levels:

Resistance levels: $6906, $6950, $7020

Support levels: $6757, $6589, $6473

S&P 500 Long-term trend: Bullish

The S&P 500 Index is trending upward on its daily chart. Bulls have controlled the market for more than three months. Since February 19, the indicator’s primary driver has been subtractions. A second attempt to reach the $6757 milestone was made on September 6; this time, the request was approved, and more visits were made. The buyers were able to temporarily halt more price drops by maintaining the fixed price at the initial suggested position, and the double-bottom bullish reversal map pattern remained stable at $6155. The S&P 500 increased from $6155 to the barrier level of $6906. Pricing is currently finding it difficult to overcome the previously described obstacle.

The S&P 500 may hit the resistance levels of $6906, $6950, and $7020. This is based on the $6757 position staying steady. The price may test the $6589 and $6473 possibilities if it breaks through the $6757 support level. A purchase is indicated by both the Hull Suite cryptocurrency signals and the QQE MOD histogram. Everything may go according to plan.

 

S&P 500 Medium-term Trend: Bullish

The 4-hour graph of the S&P 500 shows an upward trend. The price hasn’t fallen below the $6473 hedge position for the first week due to the bulls’ robust support. While the price has been rising, the bulls have stayed steady at their assigned levels. Due to an engulfing candle pattern, the price is currently increasing quickly toward $6906. The S&P 500’s value has been increasing since it recovered from $6589.

The Hull Suite guideline is less expensive than the S&P 500. When the QQE MOD index rises over zero, it indicates a strong buying signal.

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