S&P 500 will reach the 3912,50 level

Anton Kolhanov Anton Kolhanov

Weekly forecast (December 5 – 10, 2022)

Uptrend scenario

The uptrend may be expected to continue in case the market rises above resistance level 4101,75, which will be followed by reaching resistance level 4175.

Downtrend scenario

An downtrend will start as soon, as the market drops below support level 4050,75, which will be followed by moving down to support level 3912,50.

Monthly forecast, December 2022

Uptrend scenario

The uptrend may be expected to continue, while market is trading above support level 4050,75, which will be followed by reaching resistance level 4175 and if it keeps on moving up above that level, we may expect the market to reach resistance level 4327,50.

Downtrend scenario

An downtrend will start as soon, as the market drops below support level 4050,75, which will be followed by moving down to support level 3912 and if it keeps on moving down below that level, we may expect the market to reach support level 3704,25 – 3639.

Author

Anton Kolhanov

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

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