Technical analysis SPX500 for 08.03.2024

The Tenkan-sen line is located above the Kijun-sen line. Both lines are directed upwards. 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 5210.00. The closest support is the level 5170.00

Key levels

5275.00, 5245.00, 5210.00, 5170.00, 5135.00, 5110.00

Trading scenario

Recommended opening long positions (Buy Stop) from the level of 5210.00, with Take Profit of 5245.00 and Stop Loss of 5190.00

Alternative scenario

Recommended opening short positions (Sell Stop) from the level of 5170.00, with Take Profit of 5135.00 and Stop Loss of 5190.00