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

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

Estimated Reading Time: 2 minutes
Article Rating:
Based on 1 vote
Login to rate this article.

Azeez Mustapha

Updated:

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
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • 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
$50 Min Deposit
9
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9

Learn to Trade

Never Miss A Trade Again

step 1
Signal Notification

Real-time signal notifications whenever a signal is opened, closes or Updated

step 2
Get Alerts

Immediate alerts to your email and mobile phone.

step 3
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.

Share with other traders!

telegram
Telegram
forex
Forex
crypto
Crypto
algo
Algo
news
News