Technical analysis SPX500 for 20.05.2022

The Tenkan-sen line is located below the Kijun-sen line. Both lines are horizontal. 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 3945. The closest resistance is the level 3945

Key levels

• 4200, 4100, 4045, 3945, 3850, 3740

Trading scenario

• Recommended opening short positions (Sell Stop) from the level of 3850, with Take Profit of 3740 and Stop Loss of 3945

Alternative scenario

• Recommended opening long positions (Buy Stop) from the level of 3945, with Take Profit of 4045 and Stop Loss of 3850