S&P 500 Weekly Forecast, August 17 – 21

S&P 500 Forecast For This/Next Week
(August 17 – 21, 2020)

Uptrend scenario
The uptrend may be expected to continue in case the market rises above resistance level 3397, which will be followed by reaching resistance level 3522.

Downtrend scenario
An downtrend will start as soon, as the pair drops below support level 3319, which will be followed by moving down to support level 3267 and if it keeps on moving down below that level, we may expect the market to reach support level 3191.

Chart S&P 500 This/Next Week Forecast, Technical Analysis
chart: S&P 500 market outlook, technical analysis

previous week S&P 500 forecast chart
Chart S&P 500 This/Next Week Forecast, Technical Analysis

S&P 500 Forecast 2020, Long-Term
(Quarter III: July – September, 2020)

Uptrend scenario
The uptrend may be expected to continue in case the market rises above resistance level 3397, which will be followed by reaching resistance level 3750.

Downtrend scenario
An downtrend will start as soon, as the pair drops below support level 3191, which will be followed by moving down to support level 3011.

Chart S&P 500 Forecast 2020, Long-term Outlook, Technical Analysis
chart: S&P 500 technical analysis, market outlook

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