Technical analysis SPX500 for 28.02.2024

The Tenkan-sen line is located above the Kijun-sen line. Both lines are horizontal. Confirmatory line Chikou Span is above 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 5107.15. The closest support is the top of the cloud

Key levels

5170.00, 5135.00, 5107.15, 5041.30, 5014.00, 4958.00

Trading scenario

Recommended opening long positions (Buy Stop) from the level of 5107.15, with Take Profit of 5135.00 and Stop Loss of 5075.00

Alternative scenario

Recommended opening short positions (Sell Stop) from the level of 5041.30, with Take Profit of 5014.00 and Stop Loss of 5075.00