Technical analysis SPX500 for 09.01.2024

The Tenkan-sen line crosses bottom upward the Kijun-sen line. Red is directed upwards, while blue remains horizontal. Confirmatory line Chikou Span crosses bottom upward the price chart. In this case, the cloud is descending. Instrument is trading above the Tenkan-se and Kijun-sen lines. The closest resistance is the level 4790.00. The closest support is the level 4715.00

Key levels

• 4880.00, 4835.00, 4790.00, 4715.00, 4670.00, 4620.00

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 4790.00, with Take Profit of 4835.00 and Stop Loss of 4750.00

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 4715.00, with Take Profit of 4670.00 and Stop Loss of 4750.00