S&P 500 Price Is Currently Declining in Direction of $5503

Bears have remained stable at their designated positions

S&P 500 Price Analysis – 11 March

The S&P 500 may rise and enter the resistance levels of $5875, $6019, and $6144 if the $5758 position holds. The price may test the $5667 and $5578 possibilities if it breaches the $5758 support level.

Key Levels:

Resistance levels: $5580, $5670, $5762

Support levels: $5503, $5413, $5344

S&P 500 Long-term trend: Bearish

The daily chart of the S&P 500 Index has been showing a downward trend for more than two weeks. Additions have been the primary driver of the indicator since February 19. Another attempt to attain the $6144 milestone was made on February 18; additional visitors are expected if the request is granted. The performance double-top bearish reversal map pattern held up over time, and the suppliers were able to temporarily stop further price increases by maintaining the fixed price at the first site specified. The S&P 500 declines to the $5503 barrier level from its $6144 position. The price is currently declining in the direction of $5503.

If the $5503 position holds, the S&P 500 can climb and go into the resistance levels of $5580, $5670, and $5762. If the price breaks through the $5503 support level, it might test the $5413 and $5344 possibilities. The QQE MOD histogram and the Hull Suite crypto signals both point to a sell. It may all go according to plan.

S&P 500 Medium-term Trend: Bearish

The S&P 500’s 4-hour graphic displays a downward trend. The bears’ strong resistance has prevented the price from breaking above the $6144 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 $5503 due to an engulfing candle pattern. The price of the S&P 500 has been falling from its most recent peak of $6144.

Compared to the S&P 500, the Hull Suite forex signals guidance is more expensive. A significant selling signal is indicated when the QQE MOD index falls below zero.

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