Categories: Technical analysis

S&P 500 Wave Analysis – 20 April, 2022

• S&P 500 reversed from support level 4400.00
• Likely to rise to resistance level 4500.00

S&P 500 index recently reversed up from the support level 4400.00 (the former monthly low from March) intersecting with the 61.8% Fibonacci correction of the upward impulse (1) from January.

The upward reversal from the support level 4400.00 created the daily Morning Star – which stopped the previous correction (2).

S&P 500 index can be expected to rise further toward the next resistance level 4500.00 (former low of wave A).

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.

Share
Published by
The FxPro Tech Analysis Team
Tags: S&P 500

Recent Posts

GBPUSD. Current situation #tradelikeapro #trading #tradingstrategy #tradingshorts #gbpusd #gbp

Today is Thursday, the 18th of December, and we'll be talking about the British pound…

3 hours ago

Bitcoin is holding, while Solana is on the edge

Bitcoin remains stable near $87K, outperforming altcoins, while Solana faces key support at $120. Institutional…

5 hours ago

The dollar’s wings have been clipped

Waller's dovish rhetoric halted the bears' attack on EURUSD. Slowing UK inflation caused the pound…

5 hours ago

Dow Jones Wave Analysis – 17 December 2025

Dow Jones: ⬇️ Sell - Dow Jones reversed from resistance level 49000.00 - Likely to fall…

21 hours ago

Comcast Wave Analysis – 17 December 2025

Comcast: ⬆️ Buy - Comcast broke resistance area - Likely to rise to resistance level 31.00…

21 hours ago

Platinum Wave Analysis – 17 December 2025

Platinum: ⬆️ Buy - Platinum broke resistance level 1800.00 - Likely to rise to resistance…

22 hours ago

This website uses cookies