S&P 500 could drop towards the 3,981 level

Anton Kolhanov Anton Kolhanov

Wednesday forecast (April 26, 2023)

Uptrend scenario

The uptrend may be expected to continue, while market is trading above support level 4096, which will be followed by reaching resistance level 4195 and if it keeps on moving up above that level, we may expect the market to reach resistance level 4244.

Downtrend scenario

An downtrend will start as soon, as the market drops below support level 4096, which will be followed by moving down to support level 3981.

Weekly forecast (April 24 – 28, 2023)

Uptrend scenario

An uptrend will start as soon, as the market rises above resistance level 4177, which will be followed by moving up to resistance level 4223 – 4244.

Downtrend scenario

The downtrend may be expected to continue, while market is trading below resistance level 4177, which will be followed by reaching support level 4096 and if it keeps on moving down below that level, we may expect the market to reach support level 3937.

Monthly forecast, April 2023

Uptrend scenario

The uptrend may be expected to continue, while market is trading above support level 4073, which will be followed by reaching resistance level 4244 and if it keeps on moving up above that level, we may expect the market to reach resistance level 4382.

Downtrend scenario

An downtrend will start as soon, as the market drops below support level 4073, which will be followed by moving down to support level 3937 and 3839.

Author

Anton Kolhanov

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

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