S&P 500 Price Is Targeting $4631 Resistance Level

Buyers’ pressure is increasing in S&P 500 market

S&P 500 Price Analysis – 25 July

S&P 500 may surpass the $4631 resistance level, and further buying could drive the price as high as $4723 and $4813. The price may revert and fall in the direction of the support levels of $4476, $4364, and $4276 if the $4631 level is retained

Key Levels:

Resistance levels: $4631, $4723, $4813

Support levels: $4476, $4364, $4276

S&P 500 Long-term trend: Bullish

On the daily chart, the S&P 500 is moving in the bullish direction. The support level of $3927 was broken on March 9. It was unable to reach the $3740 support level since there was little to no selling pressure. On March 16, bullish pressure increases until it reaches a peak at $4476. The price increases past the dynamic resistance level. It attempted to break through the $4476 level before because of intense buying pressure, and it is now aiming for the $4631 resistance level.

As buying pressure increases, the S&P 500 may surpass the $4631 resistance level, and further buying could drive the price as high as $4723 and $4813. S&P 500 may revert and fall in the direction of the support levels of $4476, $4364, and $4276 if the $4631 level is retained. The relative strength index period 14 being at 74 and the signal line pointing higher indicate a buy signal.

S&P 500 Medium-term Trend: Bullish

On the 4-hour chart, the S&P 500 is trending upward. By maintaining the $3927 barrier level, the purchasers were able to stop the price of the S&P 500 from falling much. The price began to soar as soon as it over the $4087 barrier level as consumer demand increased. The psychological ceiling of $4631 was in sight as the price increased. When the buying pressure grew, the $4476 threshold level was crossed. It is currently targeting $4631 level.

The price of the S&P 500 is currently above the 9-period and 21-period exponential moving averages. The Relative Strength Index period 14 at level 66 displays a bullish signal.

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