S&P 500 Wave Analysis – 15 March, 2022

• S&P 500 reversed from support level 4140.00
• Likely to rise to resistance level 4300.00

S&P 500 index recently reversed up from the key support level 4140.00 (which has been reversing the index from the middle of last year).

The support zone near the support level 4140.00 was strengthened by the lower daily Bollinger Band.

Given the strength of the support level 4140.00 and the improvement of the risk sentiment across the equities markets – S&P 500 index can be expected to rise further toward the next resistance level 4300.00.