S&P 500 Price Is Heading Towards $3927 Support Level

Updated:

Checkmark

Service for copy trading.

Checkmark

High profitable signals.

Checkmark

24/7 cryptocurrency trading.

Checkmark

10 minute setup with significant benefits.

Checkmark

79% Success rate.

Checkmark

Up to 40 trades per month.

Checkmark

Monthly subscriptions begin at £58.


Bears may continue dominating S&P 500 market

S&P 500 Price Analysis – 21 February

In case selling pressure picks up, the S&P 500 may break through the $3927 support level, and more selling pressure could drive the price down to the $3740 and $3649 levels. The price may revert and increase in the direction of the resistance levels of $4087, $4169, and $4276 if the $3927 support level is retained.

Key levels:

Resistance levels: $4087, $4169, $4276

Support levels: $3927, $3740, $3649

 

S&P 500 Long-term trend: Bearish

S&P 500 is moving in a bearish direction on the daily chart. It was a nice season for purchasers last two weeks. The price was increasing steadily till it reaches the resistance level of $4169. The bulls’ momentum failed and the mentioned level could not be penetrated. Throughout last week the price was ranging between the $4169 and $4087 levels. On 17 February, sellers forced the price down below $4087 level and the price is heading toward $3827 level.

S&P 500 is now trading below the 9-period and 21-period exponential moving averages.  In case selling pressure picks up, the S&P 500 may break through the $3927 support level, and more selling pressure could drive the price down to the $3740 and $3649 levels. The price may revert and increase in the direction of the resistance levels of $4087, $4169, and $4276 if the $3927 support level is retained. The relative strength index period 14 is at 43 and the signal line heading downward represents a sell signal.

S&P 500 Medium-term Trend: Bearish

On the 4-hour chart, the S&P 500 is in the bearish direction. The sellers defended the resistance level of $4169 and the S&P 500 could not increase further. The buyers’ power diminished as the price approached the $4169 resistance level. It resumed trading bearishly when the just mentioned level holds. The price may continue a bearish trend this week.

The current price is below $4169. The S&P 500 price is trading below the 9- and 21-period exponential moving averages. The Relative Strength Index period 14 at level 35 displays a bearish signal.

You can purchase Lucky Block here.  Buy LBLOCK

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit
9.8

Highly volatile unregulated investment products. No EU investor protection.

  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$250 Min Deposit
9.8
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$200 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9
Share with other traders!

Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.