21 May 2020
S&P 500 Price Analysis: US stocks approaching the 3000.00 figure
- S&P 500 bullish recovery from mid-March stays intact.
- The level to beat for bulls is the 3000.00 mark.
S&P 500 daily chart
After the February-March crash, the S&P 500 has been gathering bullish momentum. The market is testing the May’s highs and the 100 SMA on the daily chart. As buyers remain firmly in control a run to the 3000.00 round number should be on the cards. Further advances above the mentioned level can see the S&P 500 approaching the 3075/3100 price zone. On the flip side, support can be seen near the 2950 and 2900 levels.
Additional key levels