S&P 500 Price May Break Up $3926 Resistance Level

Updated:

Checkmark

Invest at least $250 in D2T to gain lifetime access to our VIP Signals

Checkmark

Get early access to Dash 2 Trade’s Presale. Buy the D2T token now

Checkmark

Existing community of 70,000+ traders

Checkmark

Unlocks access to the leading crypto trading analysis, signals and trading tools

Checkmark

As featured in CryptoNews.com, FXEmpire.com, FXStreet.com and more

Checkmark

World class development team backed by Quant developers and VC investors


S&P 500 market may experience increased bullish pressure

S&P 500 Price Analysis – 10 January

S&P 500 may violate the $3926 resistance level if buying pressure increases, and more buying pressure could push the price as high as $4087 and $4169 levels. If the resistance level of $3926 holds, price may turn around and decline toward the support levels of $3740, $3649, and $3493.

Key levels:

Resistance levels: $3926, $4087, $4169

Support levels:  $3740, $3649, $3493

S&P 500 Long-term trend: Bullish

The S&P 500 is in a bullish trend on the daily chart. The bears dominate the S&P 500 market after the bull lost steam at the $4087 barrier threshold. Price declines to the support level of $3740 on 22 December. Bears lose momentum and the bulls also have no enough pressure to drive the price towards the north. Since then, S&P 500 has been trading within $3926 and $3740 levels.

It seems the bearish momentum is getting weak as the S&P 500 is trading above both the 9- and 21-period exponential moving averages. S&P 500 may violate the $3926 resistance level if buying pressure increases, and more buying pressure could push the price as high as $4087 and $4169 levels. If the resistance level of $3926 holds, price may turn around and decline toward the support levels of $3740, $3649, and $3493. A buy signal is being displayed because the Relative Strength Index period 14 is at 53 and the signal line is moving higher.

S&P 500 Medium-term Trend: Bullish

The 4-hour chart’s forecast indicates that the S&P 500 is headed upward. The price tested the support level of $3740 and the sellers’ strength became weak. It started a fluctuation trade in the 4-hour. The price started a bullish movement when the bulls gained more momentum. At the moment, the price is struggling to break up the resistance level of $3926.

It is trading above both the 9- and 21-period exponential moving averages, the price is heading upward. The Relative Strength Index period 14 at 56 levels display a bullish signal.

You can purchase Lucky Block here.  Buy LBLOCK

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit
9.8

Highly volatile unregulated investment products. No EU investor protection.

  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$250 Min Deposit
9.8
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$200 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9
Share with other traders!

Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.