Technical analysis SPX500 for 09.05.2022
Intraday
Technical
The Tenkan-sen line is located below the Kijun-sen line. Both lines are directed downward. Confirmatory line Chikou Span is below the price chart
The Tenkan-sen line is located below the Kijun-sen line. Both lines are directed downward. Confirmatory line Chikou Span is below the price chart. In this case, the cloud is descending. Instrument is trading below the Tenkan-se and Kijun-sen lines. The closest support is the level 3975. The closest resistance is the level 4040
Key levels
- 4290, 4230, 4155, 4075, 4040, 3975, 3900
Trading scenario
- Recommended opening short positions (Sell) at the current price, with Take Profit of 3975 and Stop Loss of 4040
Alternative scenario
- Recommended opening long positions (Buy Stop) from the level of 4075, with Take Profit of 4155 and Stop Loss of 4040
Scenario
Recommendation
SELL
Entry Point
Take Profit
3975
Stop Loss
4040
Key Levels
4290, 4230, 4155, 4075, 4040, 3975, 3900
Alternative scenario
Recommendation
BUY STOP
Entry Point
4075
Take Profit
4155
Stop Loss
4040
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.