S&P 500 Forecast and Analysis June 2, 2020


Stock index S&P 500 continue to move as part of the correction and the rising channel, as we see prices are testing an important area of ​​resistance. At the time of the publication of the forecast, the index is trading at 3050. At the moment, we should expect an attempt to develop a downward correction and test the support level near the area of ​​3010. Where can we expect a rebound and continued growth of S&P 500 quotes in the area above the level of 3245.

S&P 500 Forecast and Analysis June 2, 2020

In favor of raising the quotes of the exchange index, 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 option to increase the quotes of the index will be a fall and a breakdown of the area of ​​2955. This will indicate a breakdown of the support level and a continuation of the fall of the S&P 500 with a target below the level of 2825. Expect acceleration of the rise of quotations of the stock index with a breakdown of the resistance area and closing above area 3105.

S&P 500 Forecast and Analysis June 2, 2020

S&P 500 Forecast and Analysis June 2, 2020 suggests an attempt to test the support level near the area of ​​3010. Then, continued growth to the area above the level of 3245. A test of the support line on the relative strength index (RSI) will speak in favor of raising the S&P 500 quotes. Cancellation of the growth option will be a fall in the index value and a breakdown of the area of ​​2955. This will indicate a continuation of the fall with a target below the area of ​​2825.


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