Technical analysis SPX500 for 31.07.2023

The Tenkan-sen line crosses bottom upward the Kijun-sen line. Red is directed upwards, while blue remains horizontal. 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 resistance is the level 4602.00. The closest support is the level 4560.00

Key levels

• 4700.00, 4650.00, 4602.00, 4560.00, 4522.00, 4483.00

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 4602.00, with Take Profit of 4650.00 and Stop Loss of 4550.00

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 4560.00, with Take Profit of 4522.00 and Stop Loss of 4550.00