S&P 500 Price Forms Double Bottom Chart Pattern

Bulls are gathering momentum

S&P 500 Price Analysis – 01 April

The S&P 500 may rise and enter the resistance levels of $5670, $5760, and $5875 if the $5579 position persists. The price may test the $5500 and $5413 possibilities if it breaches the $5579 support level.

Key Levels:

Resistance levels: $5670, $5760, $5875

Support levels: $5579, $5500, $5413

S&P 500 Long-term trend: Bullish

The S&P 500 Index’s daily chart is indicating a downward trend. Bears have ruled the market for more than two weeks. Since February 19, subtractions have been the indicator’s main driver. On February 18, there was another attempt to reach the $5875 milestone; if the request is approved, more visitors are anticipated. By keeping the fixed price at the first location designated, the suppliers were able to temporarily halt additional price declines, and the performance double-top bearish reversal map pattern held up at $5875. The S&P 500 moves down from its $5670 position to the $5579 barrier level. At the moment, the price is rising toward $5670.

The S&P 500 may rise and enter the resistance levels of $5670, $5760, and $5875 if the $5579 position persists. The price may test the $5500 and $5413 possibilities if it breaches the $5579 support level. Both the Hull Suite crypto signals and the QQE MOD histogram suggest a buy. Everything might proceed as planned.

S&P 500 Medium-term Trend: Bullish

The 4-hour plot of the S&P 500 shows an increasing trend. For the first week, the price has been unable to break above the $5875 hedge position due to the bears’ strong resistance. As the price has been falling, the bears have been steady at their assigned positions. Because of an engulfing candle pattern, the price is currently declining toward $5579. Since the S&P 500’s top of $5875, its price has been declining.

The Hull Suite advice is more costly than the S&P 500. A drop below zero in the QQE MOD index indicates a strong selling signal.

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