Technical analysis NAS100 for 06.05.2022

Tenkan-sen and Kijun-sen lines are merged. Both lines are horizontal. Confirmatory line Chikou Span is below the price chart. In this case, the cloud is ready to roll over from descending to ascending. Instrument is trading below the Tenkan-se and Kijun-sen lines. The closest support is the level 12600. The closest resistance is the level 12900

Key levels

• 13975, 13725, 13425, 13175, 12900, 12600, 12300

Trading scenario

• Recommended opening short positions (Sell Limit) from the level of 12900, with Take Profit of 12600 and Stop Loss of 13175

Alternative scenario

• Recommended opening long positions (Buy Stop) from the level of 13175, with Take Profit of 13425 and Stop Loss of 12950