Technical analysis SPX500 for 07.10.2022

The Tenkan-sen line is located above the Kijun-sen line. Red points downwards while blue points upwards. Confirmatory line Chikou Span is above the price chart. In this case, the cloud is ascending. Instrument is trading below the Tenkan-se and Kijun-sen lines. The closest resistance is the level 3717.00. The closest support is the level 3622.30

Key levels

• 3865.30, 3769.70, 3717.00, 3622.30, 3570.10, 3491.00

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 3717.00, with Take Profit of 3769.70 and Stop Loss of 3665.00

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 3622.30, with Take Profit of 3570.10 and Stop Loss of 3665.00