Technical analysis SPX500 for 03.12.2021

The Tenkan-sen line is located below the Kijun-sen line. Red is directed upwards, while blue remains horizontal. Confirmatory line Chikou Span is below the price chart. In this case, the cloud is descending. Instrument is trading above the Tenkan-se and Kijun-sen lines. The closest resistance is the level 4621.50. The closest support is the top of the cloud

Key levels

• 4743.00, 4720.25, 4686.00, 4650.50, 4621.50, 4593.25, 4556.50, 4500.00

Trading scenario

• Recommended opening short positions (Sell Stop) from the level of 4556.50, with Take Profit of 4500.00 and Stop Loss of 4593.25

Alternative scenario

• Recommended opening short positions (Sell Limit) from the level of 4621.50, with Take Profit of 4593.25 and Stop Loss of 4650.50