Technical analysis SPX500 for 25.10.2022

The Tenkan-sen line is located above the Kijun-sen line. Both lines are directed upwards. Confirmatory line Chikou Span is above the price chart. In this case, the cloud is ascending. Instrument is trading above the Tenkan-se and Kijun-sen lines. The closest resistance is the level 3865.30. The closest support is the level 3769.70

Key levels

• 3978.20, 3929.60, 3865.30, 3769.70, 3717.00, 3650.40

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 3865.30, with Take Profit of 3929.60 and Stop Loss of 3825.00

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 3769.70, with Take Profit of 3717.00 and Stop Loss of 3825.00