S&P 500 Price May Break Up $4276 Resistance Level

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S&P 500 price may reach $4364 level

S&P 500 Price Analysis – 06 June

Additional buying may push S&P 500 up to the $4364 and $4476 levels. If the $4276 resistance level is held, the price may reverse and fall in the direction of the support levels of $4180, $4087, and $3927.

Key Levels:

Resistance levels: $4276, $4364, $4476

Support levels: $4180, $4087, $3927

S&P 500 Long-term trend: Bullish

On the daily chart, the S&P 500 is moving in a bullish trend. The support level of $3927 was broken on March 9. It was unable to touch the $3740 support level since there was little to no selling pressure. The client’s request to put further pressure on pricing was fulfilled. From March 16 until it reached its peak of $4180, the price increased. The price increases past the dynamic resistance level. Strong buying pressure caused the $4180 threshold to be crossed and $4276 level may be broken upside.

The S&P 500 may break above the $4276 resistance level as buying pressure increases, and additional buying may push the price up to the $4364 and $4476 levels. If the $4276 resistance level is held, the price may reverse and fall in the direction of the support levels of $4180, $4087, and $3927. A purchase signal is shown by the relative strength index period 14 being at 64 and the signal line pointing higher.

S&P 500 Medium-term Trend: Bullish

S&P 500 is in the bullish direction in the 4-hour chart. By sustaining the $3927 barrier level, the purchasers were able to stop the price of the S&P 500 from falling much. The price began to rise as it passed the $4087 support level as a result of buying pressure. The price was advancing toward the $4180 barrier level. When the pressure from buyers rose, a threshold level of $4180 was crossed. Currently, it is trying to break up $4276 level.

The S&P 500 price is currently trading above both the 9- and 21-period exponential moving averages. On the Relative Strength Index period 14, at level 66, a bullish signal is discernible.

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