Technical analysis SPX500 for 25.10.2023

The Tenkan-sen line is located below the Kijun-sen line. Red is directed up, while blue is directed down. Confirmatory line Chikou Span is below the price chart. In this case, the cloud is descending. Instrument is traded between Tenkan-se and Kijun-sen lines. The closest resistance is the level 4265.00. The closest support is the level 4180.00

Key levels

• 4331.00, 4300.00, 4265.00, 4180.00, 4140.00, 4100.00

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 4265.00, with Take Profit of 4300.00 and Stop Loss of 4320.00

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 4180.00, with Take Profit of 4140.00 and Stop Loss of 4320.00