Will S&P 500 move towards the 4119,5 level?
Weekly forecast (March 27 – 31, 2023)
Uptrend scenario
The uptrend may be expected to continue, while market is trading above support level 3937, which will be followed by reaching resistance level 4119,5.
Downtrend scenario
An downtrend will start as soon, as the market drops below support level 3937, which will be followed by moving down to support level 3839 – 3822.
Monthly forecast, February – March 2023
Uptrend scenario
An uptrend will start as soon, as the market rises above resistance level 4180, which will be followed by moving up to resistance level 4361.
Downtrend scenario
The downtrend may be expected to continue, while market is trading below resistance level 4180, which will be followed by reaching support level 3901,75, 3788,50 and if it keeps on moving down below that level, we may expect the market to reach support level 3530,25.
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All information provided by Anton Kolhanov is for informational purposes only. Information provided is not meant as investment advice nor is it a recommendation to buy or sell any trading instrument. Anton Kolhanov is not responsible for any losses arising from any investment based on any recommendation, forecast or other information herein contained. You should do your own thorough research before making any investment decisions and seek advice from an independent financial advisor.