S&P 500: technical analysis and trading recommendations_06/22/2021


After a significant decline last week, on Monday the S&P 500 was able to nearly half its losses.

At the start of today's Asian session, S&P 500 futures are traded above important short-term support levels 4217.0 (EMA200 on the 1-hour chart), 4193.0 (EMA200 on the 4-hour chart), maintaining long-term positive momentum.

The price is also in the zone above the medium-term support level 4165.0 (ЕМА50 on the daily chart), above which nothing threatens long positions in the S&P 500.

A breakdown of the local resistance level 4267.0 will be a signal for the resumption of the bullish trend of the S&P 500 and its further growth.

In an alternative scenario, a confirmed breakout of the support level 4165.0 will become a signal for a possibly deeper correctional decline to support levels 3965.0 (ЕМА144 on the daily chart), 3860.0 (ЕМА200 on the daily chart). The first signal for this may be a breakdown of the support level 4217.0.

Support levels: 4217.0, 4193.0, 4165.0, 4060.0, 3965.0, 3860.0

Resistance levels: 4244.0, 4267.0, 4300.0, 4325.0, 4400.0

Trading recommendations

Sell Stop 4135.0. Stop-Loss 4245.0. Targets 4060.0, 3965.0, 3860.0

Buy Stop 4245.0. Stop-Loss 4135.0. Targets 4267.0, 4300.0, 4325.0, 4400.0