Technical analysis SPX500 for 08.07.2022

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 turned over from descending to ascending. Instrument is trading above the Tenkan-se and Kijun-sen lines. The closest support is the level 3895. The closest resistance is the level 3950

Key levels

• 4075, 4010, 3950, 3895, 3840, 3795

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 3950, with Take Profit of 4010 and Stop Loss of 3895

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 3895, with Take Profit of 3840 and Stop Loss of 3950