S&P 500 Price May Retest Resistance Level of $6906

Value of S&P 500 has been growing

S&P 500 Price Analysis – 02 December

The S&P 500 may hit the resistance levels of $6906, $6950, and $7020. This is premised on the $6757 position maintaining constant. If the price breaks through the $6757 support level, it might challenge the $6589 and $6473 possibilities.

Key Levels:

Resistance levels: $6906, $6950, $7020

Support levels: $6757, $6589, $6473

 S&P 500 Long-term trend: Bullish

The S&P 500 Index is trending upward on its daily chart. For nearly three months, bulls have dominated the market. Since February 19, the indicator’s primary driver has been subtractions. On September 6, a second attempt was made to accomplish the $6757 milestone; further visits were made and the request was granted this time. By retaining the fixed price at the initial recommended position, the purchasers were able to momentarily block further price falls, and the double-bottom bullish reversal map pattern held stable at $6155. The S&P 500 increased from $6155 to the barrier level of $6906. Pricing is presently fighting to climb beyond the aforementioned level.

The S&P 500 may hit the resistance levels of $6906, $6950, and $7020. This is premised on the $6757 position maintaining constant. If the price breaks through the $6757 support level, it might challenge the $6589 and $6473 possibilities. Both the QQE MOD histogram and the Hull Suite cryptocurrency signals hint to a purchase. Everything might proceed as planned.

S&P 500 Medium-term Trend: Bullish

The S&P 500’s 4-hour graph is heading upward. Because of the bulls’ strong support, the price hasn’t dipped below the $6473 hedge position for the first week. The bulls have remained constant at their designated levels while the price has been increasing. Due to an engulfing candle pattern, the price is currently increasing quickly toward $6906. Since it rebounded from $6589, the value of the S&P 500 has been growing.

Compared to the S&P 500, the Hull Suite guideline is less costly. A strong purchasing signal is provided when the QQE MOD index rises over zero.

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