S&P 500 Stays Moderately Bid Near Intraday Highs, Recovering Stability

S&P 500 Stays Moderately Bid Near Intraday Highs, Recovering Stability

S&P 500 Price Analysis – June 23

In the early hours of Wednesday, the S&P 500 picks up bids at 4250, up 0.14 percent intraday. The index continues to stay above mid 4200 levels as upside traction attempts to print new highs towards the 4300 vicinities, implying that a greater surge is yet imminent.

Key Levels
Resistance Levels: 4350, 4300, 4266
Support Levels: 4220, 4150, 4086
S&P 500 Long term Trend: Ranging
While trading past the 4250 levels earlier in the day, the index has rebounded past the previous day’s high at 4258. While the market is trading above support level 4220, the uptrend is projected to continue, with resistance level 4300 being reached next.

On the other hand, a downtrend might begin as soon as the market falls below support level 4220 levels, with a move down to support level of 4184 and rising trendline support at recent lows of 4138 levels.
As of writing, the S&P 500 was down 0.1% on the day at 4,250.S&P 500 Short term Trend: Ranging
During the early Wednesday trading session, the S&P 500 gained 13 pips or 0.14 percent. At the 4251 levels, the index is trading above the moving average of 13 in an upside channel pattern. The index is expected to rise during the next trading session, according to technical indicators.

The 4300 levels could be a potential goal for bulls. The horizontal resistance at 4266, on the other hand, could act as resistance for the index in this session and the next. If the index falls, it will be supported on dips under the 4 hours moving average of 13 at the 4220 levels, where buyers may re-emerge.

NoteLearn2Trade.com is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$200 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit
9.8

Highly volatile unregulated investment products. No EU investor protection.

  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
9.8
  • Trade top Cryptos such as Bitcoin, Litecoin and Ethereum plus more
  • Zero commissions and no bank fees on transactions
  • Around the clock service with support in 14 languages
$100 Min Deposit
8.5
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
Share with other traders!

Author : Azeez Mustapha

Avatar

Azeez Mustapha is an experienced author, trader, markets analyst, signals strategist, and funds-manager.