S&P 500 Price May Reach $4529 Resistance Level

Buyers are in control of S&P 500 market

S&P 500 Price Analysis – 14 November

Right now, buyers are in charge of the market, pushing S&P 500 up towards the $4437 mark.  If the $4343 level is maintained, the S&P 500 may rise even higher toward the resistance levels of $4437, $4529, and $4606 levels.

Key Levels:

Resistance levels: $4437, $4529, $4606

Support levels: $4343, $4287, $4180

S&P 500 Long-term trend: Bullish

The S&P 500 is on the rise. Sellers controlled the S&P market’s pricing since September 1st. The “M” chart pattern indicated a bearish reversal near the $4526 barrier level. The selling pressure resulted in a test of $4180 level on October 3.  When the support level of $4180 was reached. Prices rose as a result of buyers holding the just-mentioned support level. It broke up the $4343 level. Right now, buyers are in charge of the market, pushing the price up towards the $4437 mark.

If the $4343 level is maintained, the S&P 500 may rise even higher toward the resistance levels of $4437, $4529, and $4606 levels. The 61 rating on the period 14 relative strength index and the inclining trend of the signal line both suggest buying. The price may rise to the $4606 barrier level.

S&P 500 Medium-term Trend: Bullish

The S&P 500’s four-hour chart shows optimistic trends. The double bottom formation that emerged on the chart close to the $4180 support level caused the price to rise above the $4287 resistance level. The price has increased and bulls have held the previously specified level. The bullish engulfing candle that appeared last week indicates that the price is currently aiming for the $4437 level.

The S&P 500’s price is above both the 9- and 21-period EMAs. At level 67, the Relative Strength Index period 14 shows a positive signal that could be an upturn

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