S&P 500 Technical Analysis: Weekly Chart

In the weekly charts, S&P 500 is trading outside its previous downward channel.

It is trading above MA (5) and MA (50) but below MA (20).

The immediate support is 4400 and the resistance level is at 4620.

S&P 500 is trading above its previous downward channel.

S&P 500 Technical Analysis: Daily Chart

In the daily charts, S&P 500 is trading below its previous upward channel.

It is trading below MA (5) but above MA (20) and MA (50).

The immediate support is 4445 and the resistance level is at 4590.

S&P 500 is trading below its previous upward channel.

How to trade S&P 500 this week:

S&P 500 is trading above its previous downward channel and the following opportunity can be taken:

TRADE SUGGESTION: BUY AT 4630, TAKE PROFIT AT 4750 AND STOP LOSS AT 4520