. S&P 500 Index Technical Analysis - 07 September 2022

S&P 500 Index Technical Analysis – 07 September 2022

07 Sep 2022

S&P 500 Index Technical Analysis: Weekly Chart

S&P 500 Index Technical Analysis

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

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

Its immediate support is 3800.00 & the resistance level is at 4000.00

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

S&P 500 Technical Analysis: Daily Chart

S&P 500 Index Technical Analysis

In the daily charts, the S&P 500 is trading in a down channel. S&P 500 is currently trading below all SMA.

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

Its immediate support is 3850.00 & the resistance level is at 4000.00

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

How to Trade S&P 500 this Week:

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

TRADE SUGGESTION- SELL AT 3900.20, TAKE PROFIT AT 3820.00 AND STOP LOSS AT 4000.00