S&P 500 Price Is Targeting $4813 Resistance Level

Bulls’ momentum increases further

S&P 500 Price Analysis – 19 December

If the $4723 level is held, the S&P 500 can surge swiftly into the resistance levels of $4813, $4900, and $5000. Both the signal line’s inclining trend and the period 14 relative strength index’s 81 rating suggest a buy. The total cost could exceed $4900 in total.

Key Levels:

Resistance levels: $4813, $4900, $5000

Support levels: $4723, $4606, $4532

S&P 500 Long-term trend: Bullish

The S&P 500 Index is rising. On the S&P market, prices are fixed by sellers until October 27. The chart’s “W” pattern suggested a bullish reversal near the $4087 barrier level. Buying pressure caused the price to test and break above $4606, which it did on December 11.  The purchasers held onto the newly formed support level, and the S&P 500 rises to all-time highs when the price trend broke over $4606 and $4723. It is currently towards the $4813 level.

If the $4723 level is held, the S&P 500 can surge swiftly into the resistance levels of $4813, $4900, and $5000. Both the signal line’s inclining trend and the period 14 relative strength index’s 81 rating suggest a buy. The total cost could exceed $4900 in total.

S&P 500 Medium-term Trend: Bullish

The four-hour chart of the S&P 500 shows signals of strength. The price is rising above the $4723 resistance level because of the strong bulls’ momentum that appeared above the $4606 support level. The bulls have clung to the previously set level as the price has increased. The current price target is $4813, as shown by the bullish engulfing candle that formed yesterday.

Compared to the S&P 500, the 21- and 9-period EMAs are more affordable. During period 14, the Relative Strength Index is rising, as shown by the bullish signal at 85.

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