S&P 500 Price Is Crawling Around $6009 Barrier

Would there be a continuation of bullish trend?

S&P 500 Price Analysis – 04 February

The S&P 500 may rise and settle into the resistance levels of $6099, $6118, and $7060 if the $5881 position holds. The price may test the $5758 and $5582 possibilities if it breaches the $5881 support level.

Key Levels:

Resistance levels: $6009, $6118, $7060

Support levels: $5881, $5758, $5582

S&P 500 Long-term trend: Bullish

The S&P 500 Index’s daily chart is trending upward. Since August 5, the indicator’s main driver has been additions. On December 6, there was another attempt to reach the $6118 mark; if the request is accepted, more visitors are anticipated. By keeping the fixed price at the first location indicated, the suppliers were able to temporarily halt additional price increases, and the performing double-top bearish reversal map pattern held up over time. The S&P 500 jumps from the $6009 position to the resistance level of $6118.

The S&P 500 may rise and settle into the resistance levels of $6099, $6118, and $7060 if the $5881 position holds. The price may test the $5758 and $5582 possibilities if it breaches the $5881 support level. Both the Hull Suite crypto signals and the QQE MOD histogram suggest a buy. Maybe everything will work out 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 failed to break below the $5881 hedge position due to the bulls’ strong resistance. As the price has been rising, the bulls have stayed steady at their assigned position. An engulfing candle pattern caused the price to rise to $6009 last week. Since the most recent low of $5582 for the S&P 500, its price has been increasing.

The Hull Suite recommendation is less expensive than the S&P 500. The QQE MOD index rising above zero indicates a strong buy signal.

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