S&P 500 Price Smashed $5878, Targeting $6144 Level

Buyers’ momentum doubled

S&P 500 Price Analysis – 20 May

The resistance levels of $6028, $6144, and $6326 may be reached by the S&P 500 if it rises. This is predicated on the $5878 position remaining stable. If the price breaks through the $5878 support level, it might test the $5675 and $5598 possibilities.

Key Levels:

Resistance levels: $6028, $6144, $6326

Support levels: $5878, $5675, $5598

S&P 500 Long-term trend: Bullish

The daily chart of the S&P 500 Index shows an upward trend. For over two weeks, bears have dominated the market. Subtractions have been the primary driver of the indicator since February 19. Another attempt to reach the $5500 milestone was made on February 18; further visitors are expected if the request is granted. By keeping the fixed price at the first recommended position, the purchasers were able to temporarily stop further price declines, and the double-bottom bullish reversal map pattern held up at $5349. The S&P 500 rose from its $5349 position to the $5878 barrier level. The price is currently rising and approaching $6028.

The resistance levels of $6028, $6144, and $6326 may be reached by the S&P 500 if it rises. This is predicated on the $5878 position remaining stable. If the price breaks through the $5878 support level, it might test the $5675 and $5598 possibilities. The QQE MOD histogram and the Hull Suite crypto signals both suggest a buy. It may all go according to plan.

S&P 500 Medium-term Trend: Bullish

The S&P 500’s 4-hour graphic displays an upward trend. Because of the bulls’ strong support, the price has not dropped below the $5598 hedge position for the first week. The bulls have remained stable at their designated levels as the price has been climbing. The price is currently inclining toward $6028 due to an engulfing candle pattern. The price of the S&P 500 has been rising since it bounced back from $5598.

The S&P 500 is more costly than the Hull Suite guideline. A strong purchasing signal is shown by the QQE MOD index rising above zero.

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