Stock index S&P 500 continue to move as part of the growth and upward channel. At the time of the publication of the forecast, the index is trading at 2742.6. At the moment, we should expect an attempt to develop a downward correction and a test of the support level near the area of 2615.0. Where can we expect a rebound and continued growth of S&P 500 quotes in the area above the level of 2985.0.
S&P 500 Forecast and Analysis April 14, 2020
In favor of the growth of stock market quotes, a test of the support line on the relative strength index (RSI) will come out. The second signal will be a rebound from the lower boundary of the ascending channel. Cancellation of the growth option index quotes will be a fall and a breakdown of the area of 2495.0. This will indicate a breakdown of the support level and continued decline of the S&P 500 with a target below the level of 2205.0. Expect to accelerate the growth of quotations of the stock index is with the breakdown of the resistance area and closing above the area of 2865.0.
S&P 500 Forecast and Analysis April 14, 2020 suggests an attempt to test the support level near the area of 2615.0. Then, continued growth to the area above the level of 2985.0. In favor of the rise in S&P 500 quotes, a test of the support line on the relative strength index (RSI) will come out. Cancellation of the growth option will be a fall and a breakdown of the area of 2495.0. This will indicate a continuation of the fall with the target below the area of 2205.0.
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