Stock index S&P 500 continue to move as part of growth and a bullish channel. Moving averages indicate the presence of a short-term bullish trend. Prices have gone 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 on the market already from current levels. At the time of the publication of the forecast, the index is trading at 4548. At the moment, we should expect an attempt to develop a decline and test the support level near the 4500 area. Where should we expect a rebound upwards and continued growth of S&P 500 quotes to the area above the level of 4765.
S&P 500 Forecast and Analysis February 10, 2022
An additional signal in favor of the rise in 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 bullish channel. Cancellation of the growth option for the index quotes will be a fall and a breakdown of the 4385 area. This will indicate a breakdown of the support level and a continued fall in the S&P 500 index quotes with a target below the level of 4225. Expect an acceleration in the rise of the stock index quotes with a breakdown of the resistance area and closing quotes above the 4625 area.
S&P 500 Forecast and Analysis February 10, 2022 suggests an attempt to test the support level near the 4500 area. Then, continued growth to the area above the level of 4765. A test of the trend line on the relative strength index (RSI) will come out in favor of the S&P 500 quotes rise. Cancellation of the growth option will be a fall in the value of the index and a breakdown of the 4385 area. This will indicate a continued decline with the aim of falling the 4225 area.
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