Stock index S&P 500 continue to move within the framework of the growth and the ascending channel. Moving averages indicate a short-term bullish trend. Prices went up from the area between the signal lines, which indicates pressure from buyers of the asset and a potential continuation of the growth of the stock index in the market from the current levels. At the time of the publication of the forecast, the index is trading at the level of 4138. At the moment, we should expect an attempt to develop a correction and test the support level near the 4045 area. Where can we expect a rebound and a continued rise in the S&P 500 quotes to the area above the 4265 level.
S&P 500 Forecast and Analysis April 15, 2021
An additional signal in favor of raising the stock index quotes will be a test of the support line on the relative strength index (RSI). The second signal will be a rebound from the lower border of the ascending channel. Cancellation of the growth option for the index quotes will be a fall and a breakdown of the area of 3925. This will indicate a breakdown of the support level and a continued fall in the S&P 500 index with a target below 3505. Expect an acceleration of the rise in stock index quotes with the breakdown of the resistance area and closing of quotations above the 4225 area.
S&P 500 Forecast and Analysis April 15, 2021 suggests an attempt to test the support level near the 4045 area. Then, continued growth to the area above the 4265 level. In favor of the rise in S&P 500 quotes, a test of the trend line on the relative strength index (RSI) will come out. Cancellation of the growth option will be a fall in the value of the index and a breakdown of the 3925 area. This will indicate a continued decline with a target below the 3505 area.
Looking for the Best Forex Broker? We trade at RoboForex. You can receive a rebates from each trade when registering using our partner link
