S&P 500 Index Technical Analysis – 07 September 2022
07 Sep 2022
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.
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
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