S&P 500 Price Is Targeting $5757 Level

Bulls’ pressure is increasing

S&P 500 Price Analysis – 13 May

The S&P 500 can rise and hit the resistance levels of $5757, $5879 and $6019. This is assuming that $5590 position holds. The price may test the $5590 and $5500 possibilities if it breaches the $5667 support level.

Key Levels:

Resistance levels: $5757, $5879, $6019

Support levels: $5667, $5590, $5500

 S&P 500 Long-term trend: Bullish

The S&P 500 Index’s daily chart indicates an increasing trend. The market has been dominated by bears for more than two weeks. Since February 19, the indicator’s main driver has been subtractions. On February 18, there was another attempt to reach the $5500 milestone; if the request is approved, more visitors are anticipated. The buyers were able to temporarily halt additional price falls by holding the fixed price at the initial suggested position, and the double-bottom bullish reversal map pattern held up at $5349. The S&P 500 moved up to the $5590 barrier level from its $5349 position. Right now, the price is growing and is very close to $5667.

The S&P 500 can rise and hit the resistance levels of $5757, $5879 and $6019. This is assuming that $5590 position holds. The price may test the $5590 and $5500 possibilities if it breaches the $5667 support level. Both the Hull Suite crypto signals and the QQE MOD histogram point to a purchase. Everything might proceed as planned.

S&P 500 Medium-term Trend: Bullish

The 4-hour plot of the S&P 500 shows an increasing trend. For the first week, the price has not broken below the $5414 hedge position due to the bulls’ strong support. As the price has been rising, the bulls have held steady at their assigned levels. Because of an engulfing candle pattern, the price is currently inclining toward $5757. Since the S&P 500 recovered from $5590, its price has been increasing.

The Hull Suite guideline is less expensive than the S&P 500. A rise in the QQE MOD index above zero signifies a strong buying signal.

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