S&P 500 Price Reaches All Time High at $6054 Level

Will there be a breakup of $6054 level?

S&P 500 Price Analysis – 19 November

The S&P 500 may increase and divide into the resistance levels of $6014, $6054, and $6095 if the $5877 level holds. If the $5877 support level is breached, the price can test the $5758 and $5667 levels.

Key Levels:

Resistance levels: $6014, $6054, $6095

Support levels: $5877, $5758, $5667

S&P 500 Long-term trend: Bullish

The S&P 500 Index’s daily chart indicates an increasing trend. Since August 5, acquisitions have been the index’s main driver. On October 9, there was another effort to reach the $5758 milestone. The idea was opposed by more individuals after it was approved. For the time being, the suppliers were able to avoid raising their prices more. Through keeping the previously set price at the previously mentioned amount. The ensuing bullish reversal chart pattern with a double bottom was long-lasting. At $5877, the S&P 500 is currently trading higher than it was just a short time ago.

If the $5877 level holds, the S&P 500 might rise and split into the resistance levels of $6014, $6054, and $6095. The price may test the $5758 and $5667 levels if the $5877 support level is broken. Both the Hull Suite crypto signals and the QQE MOD histogram suggest a buy. It may go as planned.

S&P 500 Medium-term Trend: Bullish

The 4-hour chart of the S&P 500 shows an inclination pattern. Because of the bulls’ fervent activity over the past two weeks, the price was unable to breach below the $5667 barrier level. As the price has been rising, the bears have held steady at the previously established level. Last week, the price rebounded at $5758 due to an engulfing candle pattern. At the moment, bulls are trading above the prior high of $5877.

The Hull Suite indication is more costly than the S&P 500. When the QQE MOD indicator gets over zero, it indicates a strong purchase signal.

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