Technical analysis SPX500 for 26.07.2022

The Tenkan-sen line is located below the Kijun-sen line. Red is directed downward, while blue remains horizontal. Confirmatory line Chikou Span is below the price chart. In this case, the cloud is ascending. Instrument is trading below the Tenkan-se and Kijun-sen lines. The closest support is the level 3890. The closest resistance is the level 3935

Key levels

• 4050, 3990, 3935, 3890, 3840, 3790

Trading scenario

• Recommended opening short positions (Sell Stop) from the level of 3890, with Take Profit of 3840 and Stop Loss of 3935

Alternative scenario

• Recommended opening long positions (Buy Stop) from the level of 3935, with Take Profit of 3990 and Stop Loss of 3890