Buyers’ momentum increase in S&P 500 market
S&P 500 Price Analysis – 17 October
If the $4340 level is maintained, the price may continue to move in the direction of the resistance levels of $4436, and $4529 and $4606. Price may rise to the $4436 barrier level and then continue to rise until it reaches the $4529 level.
Key Levels:
Resistance levels: $4436, $4529, $4606
Support levels: $4340, $4277, $4180
S&P 500 Long-term trend: Bullish
The S&P 500 is attempting a bullish reversal. The S&P market’s pricing has been in the sellers’ control since September 1st. When a short “M” chart pattern formed near the $4606 resistance level. The selling pressure occurred and $4180 w a tested on 03 October. When it breached the $4436 support level. Strong bullish candles formed as a result of buyers defending the $4340 support level suggest that bulls are poised to take control of the S&P 500 market. The bulls are currently pushing the market toward a level of $4436.
If the $4340 level is maintained, the price may continue to move in the direction of the resistance levels of $4436, and $4529 and $4606. Both the upward trend of the signal line and the 57 rating for the period 14 relative strength index point to buying. Price may rise to the $4436 barrier level and then continue to rise until it reaches the $4529 level.
S&P 500 Medium-term Trend: Bullish
On the 4-hour chart, the S&P 500 is bullish. The formation of a double top chart pattern at the resistance level of $4529 drove the price down to the support level of $4180. The Bulls defend the just-mentioned level and there is an emergence of short double-bottom pattern. A strong bullish engulfing candle formed on October 6 and the price is currently increasing towards $4436 level.
The price of the S&P 500 has risen above both its nine-period and twenty-one-period exponential moving averages at this time. At level 57, the Relative Strength Index period 14 shows a bullish signal.
You can purchase Lucky Block here. Buy LBLOCK
- Broker
- Min Deposit
- Score
- Visit Broker
- Award-winning Cryptocurrency trading platform
- $100 minimum deposit,
- FCA & Cysec regulated
- 20% welcome bonus of upto $10,000
- Minimum deposit $100
- Verify your account before the bonus is credited
- Over 100 different financial products
- Invest from as little as $10
- Same-day withdrawal is possible
- Fund Moneta Markets account with a minimum of $250
- Opt in using the form to claim your 50% deposit bonus
Learn to Trade
Never Miss A Trade Again
Signal Notification
Real-time signal notifications whenever a signal is opened, closes or Updated
Get Alerts
Immediate alerts to your email and mobile phone.
Entry Price Levels
Entry price level for every signal Just choose one of our Top Brokers in the list above to get all this free.
