This/Next Week Forecast (November 23 – 27, 2020)
The uptrend may be expected to continue in case the market rises above resistance level 3582, which will be followed by reaching resistance level 33667 or 3705.
An downtrend will start as soon, as the market drops below support level 3540, which will be followed by moving down to support level 3475 and if it keeps on moving down below that level, we may expect the market to reach support level 3397.
previous week S&P 500 forecast chart
Economic recovery shows potential for uptrend to the level 3900, but if due to covid US will go to lockdown, market can drop to 3000.
An uptrend will start as soon, as the market rises above resistance level 3540, which will be followed by moving up to resistance level 3800 – 3900.
The downtrend may be expected to continue, while market is trading below resistance level 3540, which will be followed by reaching support level 3191.