Technical analysis SPX500 for 31.10.2023

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 traded between Tenkan-se and Kijun-sen lines. The closest resistance is the level 4215.00. The closest support is the level 4140.00

Key levels

• 4300.00, 4265.00, 4215.00, 4140.00, 4100.00, 4060.00

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 4215.00, with Take Profit of 4265.00 and Stop Loss of 4150.00

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 4140.00, with Take Profit of 4100.00 and Stop Loss of 4150.00