Technical analysis SPX500 for 05.07.2022
Intraday
Technical
Tenkan-sen and Kijun-sen lines are merged. Both lines are horizontal. Confirmatory line Chikou Span is below the price chart
Tenkan-sen and Kijun-sen lines are merged. Both lines are horizontal. Confirmatory line Chikou Span is below the price chart. In this case, the cloud is descending. Instrument is trading below the Tenkan-se and Kijun-sen lines. The closest support is the level 3730. The closest resistance is the level 3800
Key levels
- 3950, 3890, 3840, 3800, 3730, 3650
Trading scenario
- Recommended opening short positions (Sell Limit) from the level of 3800, with Take Profit of 3730 and Stop Loss of 3840
Alternative scenario
- Recommended opening long positions (Buy Stop) from the level of 3840, with Take Profit of 3890 and Stop Loss of 3800
Scenario
Recommendation
SELL LIMIT
Entry Point
3800
Take Profit
3730
Stop Loss
3840
Key Levels
3950, 3890, 3840, 3800, 3730, 3650
Alternative scenario
Recommendation
BUY STOP
Entry Point
3840
Take Profit
3890
Stop Loss
3800
Author
Nikolai Krishtopov
Market Analyst & Marketing Manager, Investizo
Nikolai Krishtopov is a Market Analyst at Investizo with more than 15 years of experience in the financial markets industry and over a decade of trading experience. His areas of focus include forex and crypto markets, technical analysis, intraday trading and market behaviour.