S&P 500 Price May Surpass $4813 Resistance Level

Bulls’ momentum increases further

S&P 500 Price Analysis – 26 December

The buyers stayed onto the recently established support level, and when the price trend breaks over $4606 and $4723, the S&P 500 hits all-time highs. The S&P 500 can go quickly into the resistance levels of $4813, $4900, and $5000 if the $4723 level is held.

Key Levels:

Resistance levels: $4813, $4900, $5000

Support levels: $4723, $4606, $4532

S&P 500 Long-term trend: Bullish

Rising is the S&P 500 Index. Sellers have set prices on the S&P market through October 27. The “W” formation on the chart indicated a bullish reversal close to the $4087 barrier level. On December 11, the price tested and broke above $4606, driven by buying pressure.  The buyers stayed at the recently established support level, and when the price trend broke over $4606 and $4723, the S&P 500 hit all-time highs. Right now, it’s getting close to the $4813 mark.

 

The S&P 500 can go quickly into the resistance levels of $4813, $4900, and $5000 if the $4723 level is held. The 81 rating on the period 14 relative strength index and the inclining trend of the signal line both point to a buy. The overall expenditure can be more than $4900.

S&P 500 Medium-term Trend: Bullish

Signals of strength are seen on the S&P 500’s four-hour chart. Because of the strong bulls’ momentum that emerged above the $4606 support level, the price is climbing above the $4723 resistance level. As the price has risen, the bulls have held fast to the previously established level. The bullish engulfing candle that emerged yesterday indicates that $4813, the current price goal, is reached.

 

The 21- and 9-period EMAs are less expensive than the S&P 500. The positive signal around 71 indicates that the Relative Strength Index is rising during period 14.

You can purchase Lucky Block here.  Buy LBLOCK