. Technical Analysis of S&P 500 Index - 20 September 2022

Technical Analysis of S&P 500 Index – 20 September 2022

Technical Analysis of S&P 500 Index – 20 September 2022

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 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. 

S&P 500 Technical Analysis: Daily Chart

S&P 500 Technical Analysis

In the daily charts, S&P 500 was 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 3895.00 the resistance level is at 3970.00

S&P 500 was traded in a down channel before there is a breakout upside.   

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 3927.20, TAKE PROFIT AT 3895.00 AND STOP LOSS AT 3980.00

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