Technical analysis SPX500 for 02.08.2022

The Tenkan-sen line is located above the Kijun-sen line. Red is directed downward, while blue remains horizontal. Confirmatory line Chikou Span is above the price chart. In this case, the cloud is ascending. Instrument corrected to the Tenkan-se line. The closest resistance is the level 4160.00. The closest support is the level 4072.40

Key levels

• 4279.70, 4222.50, 4160.00, 4072.40, 4020.60, 3950.00

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 4160.00, with Take Profit of 4222.50 and Stop Loss of 4115.00

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 4072.40, with Take Profit of 4020.60 and Stop Loss of 4115.00