Technical analysis SPX500 for 20.03.2024
Intraday
Technical
Tenkan-sen and Kijun-sen lines are merged. Both lines are horizontal. Confirmatory line Chikou Span crossed and fixed above the price chart
Tenkan-sen and Kijun-sen lines are merged. Both lines are horizontal. Confirmatory line Chikou Span crossed and fixed above the price chart. In this case, the cloud is ascending. Instrument is trading above the Tenkan-se and Kijun-sen lines. The closest support is the level 5150. The closest resistance is the level 5200
Key levels
- 5250, 5200, 5150, 5125, 5100
Trading scenario
- Recommended opening long positions (Buy Stop) from the level of 5200, with Take Profit of 5250 and Stop Loss of 5150
Alternative scenario
- Recommended opening short positions (Sell Stop) from the level of 5150, with Take Profit of 5125 and Stop Loss of 5175
Scenario
Recommendation
BUY STOP
Entry Point
5200
Take Profit
5250
Stop Loss
5150
Key Levels
5250, 5200, 5150, 5125, 5100
Alternative scenario
Recommendation
SELL STOP
Entry Point
5150
Take Profit
5125
Stop Loss
5175
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.