Technical analysis SPX500 for 16.08.2023

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 resistance is the level 15250.00. The closest support is the level 14910.00

Key levels

• 15785.00, 15470.00, 15250.00, 14910.00, 14720.00, 14250.00

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 15250.00, with Take Profit of 15470.00 and Stop Loss of 15100.00

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 14910.00, with Take Profit of 14720.00 and Stop Loss of 15100.00