Technical analysis SPX500 for 08.05.2024
Intraday
Technical
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
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 support is the level 5175. The closest resistance is the level 5200
Key levels
- 5225, 5200, 5175, 5150, 5120
Trading scenario
- Recommended opening long positions (Buy Limit) from the level of 5175, with Take Profit of 5200 and Stop Loss of 5150
Alternative scenario
- Recommended opening short positions (Sell Stop) from the level of 5150, with Take Profit of 5120 and Stop Loss of 5175
Scenario
Recommendation
BUY LIMIT
Entry Point
5175
Take Profit
5200
Stop Loss
5150
Key Levels
5225, 5200, 5175, 5150, 5120
Alternative scenario
Recommendation
SELL STOP
Entry Point
5150
Take Profit
5120
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.