S&P 500 Price Reaches $6906, What Else?

Price surpass $6757 Line

S&P 500 Price Analysis – 28 October

The S&P 500 may touch the resistance levels of $6591, $6764, and $6820. This is assuming that the $6470 position stays steady. The price may test the $6284 and $6155 possibilities if it breaches the $6470 support level

Key Levels:

Resistance levels: $6906, $6950, $7020

Support levels: $6757, $6589, $6473

 

 S&P 500 Long-term trend: Bullish

The daily chart of the S&P 500 Index shows an upward trend. For over three months, bulls have controlled the market. Subtractions have been the main driver of the indicator since February 19. On September 06, there was another attempt to hit the $6757 milestone; this time, the request was granted, and further visits were made. By holding the fixed price at the first recommended position, the purchasers were able to momentarily stop further price declines, and the double-bottom bullish reversal map pattern held steady at $6155. From $6155 to the $6906 barrier level, the S&P 500 rose. At the moment, the price is struggling to break up just mentioned level.

 

The resistance levels of $6906, $6950, and $7020 could be touched by the S&P 500. This is predicated on the $6757 position remaining stable. If the price breaks through the $6757 support level, it might test the $6589 and $6473 possibilities. The QQE MOD histogram and the Hull Suite crypto signals both suggest a buy. Everything might proceed as planned.

S&P 500 Medium-term Trend: Bullish

The S&P 500’s 4-hour graphic displays an upward trend. Because of the strong support from the bulls, the price has not dropped below the $6473 hedge position for the first week. The bulls have remained stable at their designated levels as the price has been climbing. The price is rapidly rising toward $6906 due to an engulfing candle pattern. Since it bounced back from $6589, the value of the S&P 500 has been rising.

The S&P 500 is more costly than the Hull Suite guideline. A strong purchasing signal is indicated when the QQE MOD index rises over zero.

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