Technical analysis SPX500 for 22.03.2022

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 support is the level 4480. The closest resistance is the level 4590

Key levels

• 4730, 4660, 4590, 4480, 4405, 4350, 4290, 4220, 4110

Trading scenario

• Recommended opening long positions (Buy Limit) from the level of 4480, with Take Profit of 4590 and Stop Loss of 4405

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 4405, with Take Profit of 4290 and Stop Loss of 4480