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

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

S&P 500 Index Price Chart

S&P 500 Technical Analysis: Weekly Chart

S&P 500 Technical Analysis

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 3595 and the resistance level is at 3950

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 Technical Analysis

In the daily charts, S&P 500 is trading outside its previous 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 3620 and the resistance level is at 3840

S&P 500 is trading outside and above its previous 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:

TRADE SUGGESTION: SELL AT 3515, TAKE PROFIT AT 3265, AND STOP-LOSS AT 3690

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