Technical analysis

S&P 500 Wave Analysis – 13 June 2023

– S&P 500 broke key resistance level 4310.00

– Likely to rise to resistance level 4450.00

S&P 500 index recently broke sharply above the key resistance level 4310.00 (former multi-month high from August).

The breakout of the resistance level 4310.00 accelerated the active minor impulse wave 3 of the intermediate impulse wave (C) from the start of March.

Given the strong multi-month uptrend, S&P 500 index can be expected to rise further toward the next resistance level 4450.00 (target for the completion of the active impulse wave 3).

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