Technical analysis SPX500 for 22.02.2024

The Tenkan-sen line is located below the Kijun-sen line. Both lines are horizontal. Confirmatory line Chikou Span crosses from top to bottom 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 support is the level 4990. The closest resistance is the level 5045

Key levels

• 5080, 5045, 4990, 4950, 4900

Trading scenario

• Recommended opening long positions (Buy) at the current price, with Take Profit of 5045 and Stop Loss of 4990

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 4950, with Take Profit of 4900 and Stop Loss of 4985