S&P 500 Price Tests $5500 Resistance Level, What Else?

Bulls dominate S&P 500 market

S&P 500 Price Analysis – 25 June

S&P 500 may increase and split into the resistance levels of $5500, $5578, and $5600, if the $5414 level holds. If the $5414 support level is broken, the price may test the $5265 and $5199 support levels

Key Levels:

Resistance levels: $5500, $5578, $5600

Support levels: $5414, $5265, $5199

S&P 500 Long-term trend: Bullish

The daily chart of the S&P 500 Index shows an upward trend. Since October of last year, acquisitions have been the main driver of the S&P 500 index. The recently beaten resistance level of $5265, was attempted to be broken again on April 1. The sellers are preventing further price hikes by sticking to the set prices. The price went risen until $4968, at which point it went up. The price is currently above its previous peak because purchasers are scrambling to break through the previously established level.

S&P 500 may increase and split into the resistance levels of $5500, $5578, and $5600, if the $5414 level holds. If the $5414 support level is broken, the price may test the $5265 and $5199 support levels. The QQE MOD histogram and the Hull Suite crypto signals both point to a buy. Perhaps it will continue on the correct path.

S&P 500 Medium-term Trend: Bullish

The S&P 500’s 4-hour chart displays inclination patterns. Over the previous two weeks, the price has broken above the $5265 barrier level due to the bulls’ tremendous aggression. The bulls have clung to the previously set level as the price has increased. Last week, a bullish engulfing candle sent the price up to $5414. The $5500price target was reached. Bulls are now trading above the previous high of $5414.

Compared to the S&P 500, the Hull Suite indication is less expensive. When the QQE MOD indicator is greater than zero, a purchase signal is present.

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