Technical analysis SPX500 for 26.08.2022

The Tenkan-sen line is located above the Kijun-sen line. Both lines are directed downward. Confirmatory line Chikou Span is below the price chart. In this case, the cloud is descending. Instrument is trading below the Tenkan-se and Kijun-sen lines. The closest resistance is the level 4148.20. The closest support is the level 4075.50

Key levels

• 4220.60, 4184.40, 4148.20, 4075.50, 4019.80, 3982.30

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 4148.20, with Take Profit of 4184.40 and Stop Loss of 4115.00

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 4075.50, with Take Profit of 4019.80 and Stop Loss of 4115.00