Index Trading – S&P 500 Index Price Chart, Analysis and News
18 May 2022
S&P 500 Technical Analysis: Weekly Chart
In the weekly charts, S&P 500 is trading in a downward channel.
It is trading below all SMAs: MA (20), MA (50), and MA (100).
RSI is in selling zone which indicates bearishness. MACD is currently trading below zero which indicates bearishness.
The immediate support is at 3835 and the resistance level is at 4232.
S&P 500 is trading in a downward channel until there is a trend reversal.
S&P 500 Technical Analysis: Daily Chart
In the daily charts, S&P 500 is trading in a downward channel.
It is trading below all SMAs: MA (20), MA (50), and MA (100).
RSI is in selling zone which indicates bearishness. MACD is currently trading below zero which indicates bearishness.
The immediate support is at 3916 and the resistance level is at 4148
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 in a downward channel until there is a trend reversal and the following opportunity can be taken: