S&P 500 Price May Break Down Support Level $5499

Sellers are taking over S&P 500 market

S&P 500 Price Analysis –30 July

If the $5499 level holds, the S&P 500 can rise and split into the resistance levels of $5580, $5667, and $5680. The price may test the $5413 and $5345 support levels if the $5499 support level is broken.

Key Levels:

Resistance levels: $5580, $5667, $5680

Support levels: $5499, $5413, $5345

S&P 500 Long-term trend: Bearish

The S&P 500 Index’s daily chart indicates a declining trend. Since October of last year, the S&P 500 index has been largely driven by acquisitions. On July 16, there was another attempt to break over the $5667 barrier level. This endeavor was only barely successful. By maintaining the predetermined prices, the sellers are averting additional price increases. The cost decreased to $5,580. As sellers attempt to breach the previously set barrier, prices are testing the $5499 mark, which is below the prior top.

If the $5499 level holds, the S&P 500 can rise and split into the resistance levels of $5580, $5667, and $5680. The price may test the $5413 and $5345 support levels if the $5499 support level is broken. Both the Hull Suite crypto signals and the QQE MOD histogram suggest a sell. Maybe it will keep going in the right direction.

S&P 500 Medium-term Trend: Bearish

The 4-hour chart of the S&P 500 shows patterns of decline. The extreme aggression of the bears over the last two weeks has caused the price to break below the $5667 barrier level. As the price drops, the bears have held onto the previously established level. Last week, the price dropped to $5499 following a bearish engulfing candle. The $5499 price goal was accomplished. Right now, bears are trading below the previous high.

The Hull Suite indicator is more costly than the S&P 500. A sell signal is evident when the QQE MOD indicator is lower than or equal to zero.

Start using a world-class auto trading solution

You can purchase Lucky Block here.  Buy LBLOCK