Technical analysis SPX500 for 09.11.2023

The Tenkan-sen line is located above the Kijun-sen line. Both lines are horizontal. 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 4370. The closest resistance is the level 4400

Key levels

• 4430, 4400, 4370, 4350, 4325

Trading scenario

• Recommended opening long positions (Buy Limit) from the level of 4370, with Take Profit of 4400 and Stop Loss of 4350

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 4350, with Take Profit of 4325 and Stop Loss of 4370