Technical analysis SPX500 for 05.01.2024

The Tenkan-sen line is located below the Kijun-sen line. Both lines are directed downward. 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 4745.00. The closest support is the level 4670.00

Key levels

• 4835.00, 4790.00, 4745.00, 4670.00, 4620.00, 4580.00

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 4745.00, with Take Profit of 4790.00 and Stop Loss of 4710.00

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 4670.00, with Take Profit of 4620.00 and Stop Loss of 4710.00