S&P 500 Price May Test $5598 Level

Azeez Mustapha

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S&P 500 market may break up $5500

S&P 500 Price Analysis – 09 July

If the $5414 level holds, the S&P 500 may rise and split into the resistance levels of $5500, $5578, and $5600. The price may test the $5265 and $5199 support levels if the $5414 support level is broken.

Key Levels:

Resistance levels: $5580, $5598, $5650

Support levels: $5500, $5416, $5343

S&P 500 Long-term trend: Bullish

The daily chart of the S&P 500 Index shows an upward trend. The S&P 500 index has been primarily driven by acquisitions since October of last year. The $5416, which was just overcome, resistance level was attempted to be breached again on April 1. The sellers are preventing further price hikes by sticking to the set prices. The price went up until $5500. Prices are testing $5580 level, higher than previous peak, as buyers try to break through the previously established barrier.

S&P 500 Price May Test $5598 Level

S&P 500 may increase and split into the resistance levels of $5580, $5598, and $5650 if the $5500 level holds. If the $5500 support level is destroyed, the price can test the $5416 and $5343 support levels. The QQE MOD histogram and the Hull Suite crypto signals both point to a buy. Perhaps it will continue on the correct path.

S&P 500 Medium-term Trend: Bullish

The S&P 500 4-hour chart displays inclination patterns. The price has broken above the $5265 barrier level in the last two weeks due to the bulls’ extraordinary aggression. The bulls have clung to the previously set level as the price has increased. Last week, a bullish engulfing candle sent the price up to $5414. The $5500 price target was reached. Bulls are currently trading above the prior high of $5414.

S&P 500 Price May Test $5598 Level

Compared to the S&P 500, the Hull Suite indication is less expensive. When the QQE MOD indicator is greater than zero, a purchase signal is present.

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Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.

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