Technical analysis SPX500 for 20.02.2024

The Tenkan-sen line is located above the Kijun-sen line. 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 traded between Tenkan-se and Kijun-sen lines. The closest resistance is the level 5025.15. The closest support is the level 4985.00

Key levels

5090.00, 5056.50, 5025.15, 4985.00, 4957.10, 4925.10

Trading scenario

Recommended opening long positions (Buy Stop) from the level of 5025.15, with Take Profit of 5056.50 and Stop Loss of 5005.00

Alternative scenario

Recommended opening short positions (Sell Stop) from the level of 4985.00, with Take Profit of 4957.10 and Stop Loss of 5005.00