Technical analysis SPX500 for 17.10.2023

The Tenkan-sen line is located above the Kijun-sen line. Red is directed upwards, while blue remains horizontal. Confirmatory line Chikou Span is above the price chart. In this case, the cloud is ascending. Instrument is trading above the Tenkan-se and Kijun-sen lines. The closest resistance is the level 166.520. The closest support is the level 165.720

Key levels

• 167.800, 167.250, 166.520, 165.720, 165.100, 164.300

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 166.520, with Take Profit of 167.250 and Stop Loss of 166.100

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 165.720, with Take Profit of 165.100 and Stop Loss of 166.100