SP500: Uptrend expected to continue if it rises above 2957.25

Anton Kolhanov Anton Kolhanov

S&P500 (ES), futures market Thursday forecast, May 21

Uptrend

The uptrend may be expected to continue in case the market rises above resistance level 2957.25, which will be followed by reaching resistance level 2976.25 and if it keeps on moving up above that level, we may expect the pair to reach resistance level 3014.

Downtrend

A downtrend will start as soon, as the pair drops below support level 2941.25, which will be followed by moving down to support level 2907.25.

Weekly forecast, May 18 - 22

Uptrend

The uptrend may be expected to continue in case the market rises above resistance level 2907, which will be followed by reaching resistance level 2965 and if it keeps on moving up above that level, we may expect the pair to reach resistance level 3029.

Downtrend

A downtrend will start as soon, as the pair drops below support level 2739, which will be followed by moving down to support level 2619.

Monthly forecast, May 2020

Uptrend

The uptrend may be expected to continue in case the market rises above resistance level 3000, which will be followed by reaching resistance level 3136 - 3211.

Downtrend

The downtrend may be expected to continue, while pair is trading below resistance level 2925, which will be followed by reaching support level 2717 and 2455.

Author

Anton Kolhanov

Anton Kolhanov is a trader and an analyst. He started to study the Forex market in 2003.

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