. Index News S&P 500 & Technical Analysis Forecast - 09 February 2023

Index News S&P 500 & Technical Analysis Forecast – 09 February 2023

Index News S&P 500 & Technical Analysis Forecast – 09 February 2023

S&P 500 Index Price Chart

S&P 500 Index Technical Analysis: Weekly Chart

In the weekly charts, S&P 500 is trading in a down channel. S&P 500 is currently trading below all SMA except MA (5)

RSI is in the neutral zone which indicates neutralness. MACD is currently below zero which indicates bearishness.

Its immediate support is 3750.00 the resistance level is at 3950.00

S&P 500 will trade in a down channel until there is a trend reversal.

S&P 500 Index Technical Analysis: Daily Chart

In the daily charts, S&P 500 was trading in a down channel. S&P 500 is currently trading above all SMA except MA (50).

RSI is in the buying zone which indicates bullishness. MACD is currently below zero which indicates bearishness.

Its immediate support is 3800.00 the resistance level is at 3950.00

S&P 500 was traded in a down channel before there is an upside breakout.  

How to Trade S&P 500 Index this Week:

S&P 500 will follow the downtrend until its trend reversal. So, remain bearish on S&P 500

TRADE SUGGESTION- SELL AT 3848.95, TAKE PROFIT AT 3710.00 AND STOP LOSS AT 3980.00

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