13 Apr
S&P 500 Technical Analysis: Weekly Chart
In the weekly charts, S&P 500 is trading above its previous downward channel.
It is trading below all SMAs: MA (5), MA (20), and MA (50).
The immediate support is 4320 and the resistance level is at 4590.
S&P 500 is trading outside and above its previous downward channel.
S&P 500 Technical Analysis: Daily Chart
In the daily charts, S&P 500 is trading in a downward channel.
Its is trading below MA (5) and MA (20) but above MA (50).
The immediate support is 4375 and the resistance level is at 4470.
S&P 500 is trading in a downward channel until there is a trend reversal.
How to trade S&P 500 this week:
S&P 500 is trading above and outside its previous downward channel. However, if the price breaks down further, the following opportunity can be taken:
