Will S&P 500 reach the 4119 level?

Anton Kolhanov Anton Kolhanov

Wednesday forecast (March 22, 2023)

Uptrend scenario

The uptrend may be expected to continue, while market is trading above support level 4009, which will be followed by reaching resistance level 4119.

Downtrend scenario

An downtrend will start as soon, as the market drops below support level 4009, which will be followed by moving down to support level 3960 and if it keeps on moving down below that level, we may expect the market to reach support level 3897 and 3839.

Monthly forecast, February – March 2023

Uptrend scenario

An uptrend will start as soon, as the market rises above resistance level 4180, which will be followed by moving up to resistance level 4361.

Downtrend scenario

The downtrend may be expected to continue, while market is trading below resistance level 4180, which will be followed by reaching support level 3901,75, 3788,50 and if it keeps on moving down below that level, we may expect the market to reach support level 3530,25.

Author

Anton Kolhanov

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

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