S&P 500 Price Is Under Bullish’ Pressure

S&P 500 may increase further

S&P 500 Price Analysis – 13 January

The resistance levels of $6906, $6950, and $7020 could be reached by the S&P 500. This forecast is based on the $6757 level remaining intact. If the price falls below the $6757 support level, it may move toward the $6589 and $6473 levels.

Key Levels:

Resistance levels: $6906, $6950, $7020

Support levels: $6757, $6589, $6473

 

 S&P 500 Long-term trend: Bullish

On its daily chart, the S&P 500 Index is currently showing an upward trend. Bullish conditions have been dominant in the market over the past three months. A series of higher price movements has been the main driver for the index since February 19. Another attempt to reach the $6757 level was made on September 6, and this time it was successful. The price was able to temporarily stabilize at the initial level, preventing further upward movement. At $6950, the double-top bearish reversal pattern might not hold. From $6155 to the key resistance level of $6906, the S&P 500 has risen. However, the price is still moving towards its previous high.

The resistance levels of $6906, $6950, and $7020 could be reached by the S&P 500. This forecast is based on the $6757 level remaining intact. If the price falls below the $6757 support level, it may move toward the $6589 and $6473 levels. Both the Hull Suite cryptocurrency signals and the QQE MOD histogram indicate potential buying opportunities. The overall market sentiment might improve.

S&P 500 Medium-term Trend: Bullish

The 4-hour chart of the S&P 500 shows an upward trend. For the past week, the price has struggled to rise above the $6906 level due to strong bullish support. Despite a steady rise, the bulls have held their positions. However, the price is currently moving quickly towards the $6906 level due to an engulfing candlestick pattern.he value of the S&P 500 has been increasing since it recovered from the $6757 level.

At the moment, the Hull Suite is cheaper than the S&P 500. A strong buying signal is generated when the QQE MOD index crosses above zero.

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