22.08.202405:23 Forex Analysis & Reviews: Technical Analysis of Daily Price Movement of S&P 500 Index, Thursday August 22, 2024.

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On the daily chart of the S&P 500 index, it appears that Buyers are dominating the index. This can be seen from the price movement above the MA 100 & MA 200 where the position of the MA 100 is also above the MA 200 and the appearance of deviations between the price movements of the index which form Lower - Low while the Stochastic Oscillator indicator actually forms Higher - Low so that based on these facts in the next few days, although there could be a weakening correction, as long as it does not breaks below the level of 5175.59 which is only momentary, then #SPX has the potential to strengthen again where the level of 5669.73 will try to be broken upwards and if successful, #SPX will continue its strengthening to the level of 5887.80 as its main target and 6053.95 as the next target if it turns out that momentum and volatility support it.

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