SP500 Technical Analysis ES1! futures S&P 500 Index 3-27-23
What’s on the market now:
Today the S&P500 (ES1!) is trading at 4028.
Last Friday, we saw a reversal at the 3950 level and the index movement to the 4000 level, which I mentioned earlier. Now, the target that buyers set for themselves remains the same, the 4310 level, which I have been writing about for the last 3 months. However, for a sharp increase, additional factors are needed. These may soon appear in the market. The funds want to buy and are looking for opportunities to do so. That’s why there’s still a chance of a sharp rise in the market.
In case of continued growth, the nearest profit-taking level will be at 4064, where there is a large number of sell orders. However, once this level is broken, we will see a sharp rise in the index. But if this attempt at growth is broken, we will see a decline in the index to the previously expected zone.
If you didn’t see my analysis yesterday, you can check it out here.
What today:
S&P500 (ES1!) on the charts today:
Today, at the beginning of the trading day, I expect the index to attempt to rise to the 4130 level. However, if this attempt fails, we will see the index stabilize to the level of 3990, followed by a subsequent decline.
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