S&P 500 Price Is Struggling to Break Up $4364 Resistance Level

S&P 500 price may reach $4476 level

S&P 500 Price Analysis – 13 June

As buying pressure increases, the S&P 500 may break through the $4364 resistance level, and further buying could drive the price up to the $4476 and $4631 levels. The price may revert and fall in the direction of the support levels of $4276, $4180, and $4087 if the $4364 resistance level is held.

Key Levels:

Resistance levels: $4364, $4476, $4631

Support levels: $4276, $4180, $4087

 

S&P 500 Long-term trend: Bullish

On the daily chart, the S&P 500 is moving in a bullish trend. On March 9, the $3927 level of support was breached. Since there was little to no selling pressure, it was unable to touch the $3740 support level. We complied with the client’s request to increase the pressure on pricing. The price rose from March 16 till it hit its peak of $4180. Past the dynamic resistance level, the price rises. The $4180 boundary was broken by strong buying pressure, and the $4276 level was broken upward and the price is currently testing the resistance level of $4364.

As buying pressure increases, the S&P 500 may break through the $4364 resistance level, and further buying could drive the price up to the $4476 and $4631 levels. The price may revert and fall in the direction of the support levels of $4276, $4180, and $4087 if the $4364 resistance level is held. The relative strength index period 14 is at 72 and the signal line pointing upward indicates a buy signal.

S&P 500 Medium-term Trend: Bullish

S&P 500 is in the bullish direction in the 4-hour chart. By holding the $3927 barrier level, the purchasers were able to stop the price of the S&P 500 from falling much. The price started to rise as soon as it crossed the $4087 support level as purchasing pressure began to build. The $4180 psychological barrier was in sight as the price increased. When buyer pressure mounted, the $4180 threshold level was crossed. At the moment, it’s trying to go past the $4364 mark.

Both the 9-period and 21-period exponential moving averages are currently being traded above by the S&P 500 price. A positive signal can be seen on the Relative Strength Index period 14 at level 77.

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