S&P 500 Price Technical Analysis: Weekly Chart
- In the weekly charts , S&P 500 is trading in a downward channel.
- S&P 500 is near its crucial support of 20-days SMA. If it breaks this support, it will possibly test the 50-days SMA level.
- S&P 500 will follow a downward trend in the coming weeks.
- The S&P 500 crucial support level is at 4,583.90 S&P 500 which is near 20 days SMA as of now. There are no signs of a Bullish trend.
- Bears have their tight grip on S&P 500.