S&P 500 Index Technical Analysis, Forecast and Trade Signals

S&P 500 Index Technical Analysis, Forecast and Trade Signals

S&P 500 Index Price Chart

S&P 500 Technical Analysis: Weekly Chart

S&P 500 Index Technical Analysis

In the weekly charts, S&P 500 is trading in a downward channel.

It is trading below MA (20) and MA (50) but above MA (100).

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

The immediate support is at 3870 and the resistance level is at 4260

S&P 500 is trading in a downward channel until there is a trend reversal.

S&P 500 Technical Analysis: Daily Chart

S&P 500 Index Technical Analysis

In the daily charts, S&P 500 is trading in an upward channel.

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

RSI is in buying zone which indicates bullishness. MACD is currently trading above zero which indicates bullishness.

The immediate support is at 4070 and the resistance level is at 4200

S&P 500 is trading in an upward 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:

TRADE SUGGESTION: SELL AT 3830, TAKE PROFIT AT 3540, AND STOP-LOSS AT 4025

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