Technical analysis SPX500 for 01.03.2024
Intraday
Technical
The Tenkan-sen line is located below the Kijun-sen line. Both lines are horizontal. Confirmatory line Chikou Span is above the price chart
The Tenkan-sen line is located below 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 5075. The closest resistance is the level 5110
Key levels
- 5110, 5075, 5050, 5020
Trading scenario
- Recommended opening long positions (Buy Limit) from the level of 5075, with Take Profit of 5110 and Stop Loss of 5050
Alternative scenario
- Recommended opening short positions (Sell Stop) from the level of 5050, with Take Profit of 5020 and Stop Loss of 5075
Scenario
Recommendation
BUY LIMIT
Entry Point
5075
Take Profit
5110
Stop Loss
5050
Key Levels
5110, 5075, 5050, 5020
Alternative scenario
Recommendation
SELL STOP
Entry Point
5050
Take Profit
5020
Stop Loss
5075
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.