Technical analysis SPX500 for 02.02.2024
Intraday
Technical
Tenkan-sen and Kijun-sen lines are merged. Both lines are horizontal. Confirmatory line Chikou Span is above the price chart
Tenkan-sen and Kijun-sen lines are merged. Both lines are horizontal. Confirmatory line Chikou Span is above the price chart. In this case, the cloud turned over from ascending to descending. Instrument is trading above the Tenkan-se and Kijun-sen lines. The closest resistance is the level 4954.00. The closest support is the level 4920.00
Key levels
- 5015.00, 4985.00, 4954.00, 4920.00, 4880.00, 4835.00
Trading scenario
- Recommended opening long positions (Buy Stop) from the level of 4954.00, with Take Profit of 4985.00 and Stop Loss of 4935.00
Alternative scenario
- Recommended opening short positions (Sell Stop) from the level of 4920.00, with Take Profit of 4880.00 and Stop Loss of 4935.00
Scenario
Recommendation
BUY STOP
Entry Point
4954.00
Take Profit
4985.00
Stop Loss
4935.00
Key Levels
5015.00, 4985.00, 4954.00, 4920.00, 4880.00, 4835.00
Alternative scenario
Recommendation
SELL STOP
Entry Point
4920.00
Take Profit
4880.00
Stop Loss
4935.00
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.