Technical analysis SPX500 for 09.09.2024

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 descending. Instrument is trading below the Tenkan-se and Kijun-sen lines. The closest support is the level 5430. The closest resistance is the level 5460

Key levels

• 5515, 5485, 5460, 5430, 5400, 5360

Trading scenario

• Recommended opening short positions (Sell Stop) from the level of 5430, with Take Profit of 5400 and Stop Loss of 5460

Alternative scenario

• Recommended opening long positions (Buy Stop) from the level of 5460, with Take Profit of 5515 and Stop Loss of 5485