S&P 500 Price May Increase to $5757 Point

S&P 500 under Bulls’ control

S&P 500 Price Analysis – 06 May

If the $5590 position holds, the S&P 500 can increase and reach the resistance levels of $5667, $5757, and $5879. If the price breaks through the $5590 support level, it might test the $5500 and $5414 possibilities.

Key Levels:

Resistance levels: $5667, $5757, $5879

Support levels: $5590, $5500, $5414

S&P 500 Long-term trend: Bullish

The daily chart of the S&P 500 Index shows an upward trend. For nearly two weeks, bears have dominated the market. Subtractions have been the primary driver of the indicator since February 19. Another attempt to hit the $5414 milestone was made on February 18; additional visitors are expected if the request is granted. By maintaining the fixed price at the first recommended position, the purchasers were able to temporarily stop further price declines, and the performance double-bottom bullish reversal map pattern held up at $5349. The S&P 500 rose from its $5349 position to the $5590 barrier level. The price is currently rising approaching $5667.

If the $5590 position holds, the S&P 500 can increase and reach the resistance levels of $5667, $5757, and $5879. If the price breaks through the $5590 support level, it might test the $5500 and $5414 possibilities. A purchase is indicated by the QQE MOD histogram as well as the Hull Suite crypto signals. It may all go according to plan.

S&P 500 Medium-term Trend: Bullish

The S&P 500’s 4-hour graphic displays an upward trend. The bulls’ strong support has prevented the price from breaking below the $5414 hedge position for the first week. The bulls have remained stable at their designated positions as the price has been inclining. The price is currently inclining toward $5667 due to an engulfing candle pattern. The price of the S&P 500 has been rising since it bounced from $5257.

The S&P 500 is more costly than the Hull Suite guideline. A significant purchasing signal is indicated by a incline in the QQE MOD index over zero.

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