S&P 500 Price: Sellers May Defend $5414 Level

Price pulls back retesting $5414 level

S&P 500 Price Analysis – 13 August

If the $5343 level holds, the S&P 500 might rise and split into the resistance levels of $5414, $5499, and $5580. The price may challenge the $5260 and $5188 support levels if the $5343 support level is broken.

Key Levels:

Resistance levels: $5414, $5499, $5580

Support levels: $5343, $5260, $5188

S&P 500 Long-term trend: Bearish

The S&P 500 Index’s daily chart indicates a declining trend. Since October of last year, the S&P 500 index has been largely driven by acquisitions. On July 16, there was another effort to get beyond the $5667 barrier level. This project came dangerously close to failing. By maintaining the predetermined prices, the sellers are averting additional price increases. That was $5,186 in the end. As sellers attempt to breach the previously set barrier, price pulls back currently testing the $5414 level, which is below the prior top.

If the $5343 level holds, the S&P 500 might rise and split into the resistance levels of $5414, $5499, and $5580. The price may challenge the $5260 and $5188 support levels if the $5343 support level is broken. Both the Hull Suite crypto signals and the QQE MOD histogram suggest a sell. Maybe it will keep going in the right direction.

S&P 500 Medium-term Trend: Bearish

The 4-hour chart of the S&P 500 shows patterns of decline. The extreme activity of the bears over the past two weeks caused the price to break below the $5414 barrier level. As the price drops, the bears have been able to hold onto the previously established level. Last week, the price dropped to $5188 following an engulfing bearish candle. The pricing goal of $5122 was attained. Right now, bears are trading below the previous high.

The Hull Suite indicator is more costly than the S&P 500. A sell signal is evident when the QQE MOD indicator is less than or equal to zero.

Start using a world-class auto trading solution

You can purchase Lucky Block here.  Buy LBLOCK