Technical analysis SPX500 for 20.09.2022

The Tenkan-sen line is located below the Kijun-sen line. Both lines are horizontal. 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 support is the level 3835. The closest resistance is the level 3865

Key levels

• 3950, 3900, 3865, 3835, 3800, 3750

Trading scenario

• Recommended opening short positions (Sell Stop) from the level of 3835, with Take Profit of 3800 and Stop Loss of 3865

Alternative scenario

• Recommended opening long positions (Buy Stop) from the level of 3865, with Take Profit of 3900 and Stop Loss of 3835