Technical analysis SPX500 for 04.04.2024

The Tenkan-sen line is located below the Kijun-sen line. Red is directed downward, while blue remains horizontal. Confirmatory line Chikou Span crossed and fixed below the price chart. In this case, the cloud turned over from ascending to descending. Instrument is traded between Tenkan-se and Kijun-sen lines. The closest support is the level 5200. The closest resistance is the level 5225

Key levels

• 5250, 5225, 5200, 5175, 5150

Trading scenario

• Recommended opening long positions (Buy Limit) from the level of 5200, with Take Profit of 5225 and Stop Loss of 5175

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 5175, with Take Profit of 5150 and Stop Loss of 5200