Categories: 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).

The FxPro Tech Analysis Team

The FxPro technical experts prepare a daily analysis of the most active currency pairs (majors, crosses, exotics) and commodities. Selected instruments are reviewed on daily trends (D1, H4), using the active Elliott Wave setups, Japanese candlesticks, indicators, and support/resistance levels.

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Tags: SPX500

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