S&P 500 Price: Should We Expect a Bullish Reversal at $4087 Level?

Azeez Mustapha

Updated:

Unlock Daily Forex Signals

Select a Plan

£39

1 - month
Subscription

Select

£89

3 - month
Subscription

Select

£129

6 - month
Subscription

Select

£399

Lifetime
Subscription

Select

£50

Separate Swing Trading Group

Select

Or

Get VIP forex signals, VIP crypto signals, swing signals, and forex course free for lifetime.

Just open an account with one our affiliate broker and make a minimum deposit: 250 USD.

Email [email protected] with a screenshot of funds on account to get access!

Sponsored by

Sponsored Sponsored
Checkmark

Service for copy trading. Our Algo automatically opens and closes trades.

Checkmark

The L2T Algo provides highly profitable signals with minimal risk.

Checkmark

24/7 cryptocurrency trading. While you sleep, we trade.

Checkmark

10 minute setup with substantial advantages. The manual is provided with the purchase.

Checkmark

79% Success rate. Our outcomes will excite you.

Checkmark

Up to 70 trades per month. There are more than 5 pairs available.

Checkmark

Monthly subscriptions begin at £58.


Buyers pressure May increase in S&P 500 market

S&P 500 Price Analysis – 31 October

If the $4180 level is maintained, S&P 500 may continue to decline toward the support levels of $4087, $3927 and $3740. Buying is indicated by the signal line’s inclining trend and the period 14 relative strength index’s 34 rating. The price may rise to $4277, the barrier level, and then continue to rise till $4340

Key Levels:

Resistance levels: $4180, $4277, $4340

Support levels: $4087, $3927, $3827

S&P 500 Long-term trend: Bearish

There is a bearish trend in the S&P 500. Sellers have been controlling the S&P market’s pricing since September 1st. The “M” chart pattern indicated a bearish reversal as the $4606 resistance level got closer. The selling pressure resulted in a test of $4180 on October 3.  When the support threshold of $4277 was exceeded. Price pullback to the $4436 level occurred as a result of buyers defending the $4180 support level. The bears are currently in control of the market, pushed the price to test the support level $4087 and it is currently pulling back.

 If the $4180 level is maintained, S&p 500 may continue to decline toward the support levels of $4087, $3927, and $3740. Buying is indicated by the signal line’s inclining trend and the period 14 relative strength index’s 34 rating. The price may rise to $4277, the barrier level, and then continue to rise to $4340.

S&P 500 Medium-term Trend: Bearish

The S&P 500 shows bearish trends on the 4-hour chart. The double top pattern on the chart that developed around the $4529 resistance level caused the price to go below the $4180 support level. A pullback of the price occurred as bulls held the $4087 level. A bullish engulfing candle appeared yesterday, and the price is currently pulling back toward $4180.

The price of the S&P 500 is now crossing 9- periods EMA while 21- periods EMA is above the price. At level 41, the Relative Strength Index period 14 shows a positive signal.

You can purchase Lucky Block here.  Buy LBLOCK

 

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$250 Min Deposit
9.8
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$50 Min Deposit
9
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9

Share with other traders!

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.

Leave a Reply

Your email address will not be published. Required fields are marked *