S&P 500 Price Retesting $4476 Level Due to Intense Buying Pressure

S&P 500 price may increase further

S&P 500 Price Analysis – 04 July

S&P 500 may increase above the $4476 resistance level as buying pressure picks up, and more buying could push the price as high as $4631 and $4723. If the $4476 resistance level is held, the price may reverse and decline in the direction of the support levels of $4364, $4276, and $4180.

Key Levels:

Resistance levels: $4476, $4631, $4723

Support levels: $4364, $4276, $4180

S&P 500 Long-term trend: Bullish

On the daily chart, the S&P 500 is moving in a bullish trend. On March 9, the $3927 level of support was breached. Given that there was little to no selling pressure, it was unable to hit the $3740 support level. The Crypto complied with the client’s request to apply more pressure to pricing. The price rose from March 16 till it hit its peak of $4476. Past the dynamic resistance level, the price rises. Due to intense buying pressure, it tested the just-mentioned level, pulled back and currently retesting the just-mentioned.

S&P 500 may increase above the $4476 resistance level as buying pressure picks up, and more buying could push the price as high as $4631 and $4723. If the $4476 resistance level is held, the price may reverse and decline in the direction of the support levels of $4364, $4276, and $4180. A buy signal is indicated by the relative strength index period 14 being at 69 and the signal line pointing upward.

S&P 500 Medium-term Trend: Bullish

On the 4-hour chart, the S&P 500 is moving in a bullish trend. The buyers were successful in preventing a significant decline in the price of the S&P 500 by holding the $3927 barrier level. As soon as it crossed the $4087 resistance level, the price began to rise as buying interest surged. As the price rose, the psychological ceiling of $4479 came into view. The $4180 threshold level was crossed when the purchasing pressure increased. It is currently attempting to cross the $4276 resistance level.

Both the 9-period and 21-period exponential moving averages are currently being traded below the price of the S&P 500. A bullish signal is visible on the Relative Strength Index period 14 at level 72.

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