S&P 500 Price May Break Up $4169 Resistance Level

Buyers’ momentum increases in S&P 500 market

S&P 500 Price Analysis – 25 April

The S&P 500 may surpass the $4169 resistance level if buying pressure increases, and further purchasing could push the price up to the $4276 and $4364 levels. If the $4169 resistance level is held, the price may reverse and fall in the direction of the support levels of $4087, $3927, and $3806.

Price Levels:

Resistance levels: $4169, $4276, $4364

Support levels: $4087, $3927, $3806

S&P 500 Long-term trend: Bullish

On the daily chart, S&P 500 is moving in a bullish direction. A support level of $3927 was broken on March 9. It was impossible to hit the $3806 support level because there was little to no selling pressure. It complied with customer demands as pricing came under further pressure. On March 16, the commodity’s price began to rise, reaching a peak of $4087. The price increases past the dynamic resistance level. The $4087 barrier level collapsed under increased buying pressure. After retracing to $4087, the price is now attempting to break through the $4169 mark.

S&P 500 Medium-term Trend: Bullish

On the 4-hour chart, the S&P 500 is in the bullish direction. The sellers stopped the price of the S&P 500 from sharply rising by holding the $4169 resistance level. Selling pressure resulted in a price decline once the price passed the $3927 support level. The price was heading near $3740 after the $3927 failed to hold. As buyers continue to outnumber sellers, the price is rapidly approaching the prior high of $4169.

The S&P 500 price is currently trading between both the 9- and 21-period exponential moving averages. On the Relative Strength Index period 14, at level 56, a positive signal is discernible.

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