S&P 500 Price Analysis: US stocks trades in 7-day’s highs, strong resistance ahead


  • S&P 500 is bouncing off 37-month lows and is nearing the 2600 mark.
  • Strong resistance is expected in the 2600/2700 zone. 

 

S&P 500 four-hour chart

 
The S&P 500 is pulling back up after suffering one of the sharpest decline in history. While the market is correcting and some investors call for a v-shaped recovery, the S&P 500 will need to clear the 2600/2700 resistance to create a more reliable bottom. In the meanwhile, the market is likely to remain vulnerable below the above-mentioned price area. Support is seen near the 2500, 2400 and 2300 levels on the way down.
   

Additional key levels 

SP 500

Overview
Today last price 2564.25
Today Daily Change 74.25
Today Daily Change % 2.98
Today daily open 2490
 
Trends
Daily SMA20 2685.89
Daily SMA50 3060.16
Daily SMA100 3116.43
Daily SMA200 3040.17
 
Levels
Previous Daily High 2572.75
Previous Daily Low 2399.5
Previous Weekly High 2568
Previous Weekly Low 2273.25
Previous Monthly High 3395.25
Previous Monthly Low 2854.5
Daily Fibonacci 38.2% 2506.57
Daily Fibonacci 61.8% 2465.68
Daily Pivot Point S1 2402.08
Daily Pivot Point S2 2314.17
Daily Pivot Point S3 2228.83
Daily Pivot Point R1 2575.33
Daily Pivot Point R2 2660.67
Daily Pivot Point R3 2748.58

 

 

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