Stock index S&P 500 continue to move in the framework of the correction and bull canal. The ascending model ”5-0” is also formed here. The moving averages indicate the presence of short-term bearish trends. Prices again test the area between the signal lines, which indicates pressure from the asset sellers and the potential continuation of the fall of the exchange index on the market is already with current levels. At the time of publication of the forecast, the index is trading at 4685. At the moment, it is worth expecting an attempt to develop a fall and test of the support level near the area 4625. From where it is worth expecting a rebound up and continue the growth of S&P 500 quotes to the area above level 4865.
S&P 500 Forecast and Analysis January 12, 2022
An additional signal in favor of the lifting of the commercial index quotes will be the test of the support line on the relative force indicator. The second signal will be a rebound from the lower border of the bull-channel and the ascending model ”5-0”. Cancellation of the growth of index quotes will be the fall and breakdown of the area 4575. This will indicate the support level of the support and continue the fall of the S&P 500 index quotes for the target level 4415. It is expected to accelerate the lifting quotes of the exchange index standing with a breakdown of resistance areas and closing the quotations above area 4725, which Maja on the test of the upper boundary of the downstream correction channel.
S&P 500 Forecast and Analysis January 12, 2022 suggests a test level test near the area 4625. Then, continued growth in the area above the level 4865. In favor of the S&P 500 quotation lifting will perform a trend line test on the relative force indicator. The abolition of the growth rate will be the fall in the cost of the index and breakdown of the area 4575. This will indicate a continuation of the decline with the target area of 4415.
