Technical analysis SPX500 for 01.12.2023

Tenkan-sen and Kijun-sen lines are merged. Both lines are horizontal. Confirmatory line Chikou Span crosses from top to bottom the price chart. In this case, the cloud is ascending. Instrument is trading above the Tenkan-se and Kijun-sen lines. The closest resistance is the level 4580.00. The closest support is the level 4510.00

Key levels

• 4670.00, 4620.00, 4580.00, 4510.00, 4460.00, 4430.00

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 4580.00, with Take Profit of 4620.00 and Stop Loss of 4545.30

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 4510.00, with Take Profit of 4460.00 and Stop Loss of 4545.30