Technical analysis SPX500 for 21.08.2023
The Tenkan-sen line is located below the Kijun-sen line. Blue is directed downward, while red remains horizontal. Confirmatory line Chikou Span is below the price chart
The Tenkan-sen line is located below the Kijun-sen line. Blue is directed downward, while red remains horizontal. Confirmatory line Chikou Span is below the price chart. In this case, the cloud is descending. Instrument is traded between Tenkan-se and Kijun-sen lines. The closest resistance is the level 4390.00. The closest support is the level 4310.00
Key levels
- 4485.00, 4444.00, 4390.00, 4310.00, 4270.00, 4230.00
Trading scenario
- Recommended opening long positions (Buy Stop) from the level of 4390.00, with Take Profit of 4444.00 and Stop Loss of 4320.00
Alternative scenario
- Recommended opening short positions (Sell Stop) from the level of 4310.00, with Take Profit of 4270.00 and Stop Loss of 4320.00
Nikolai Krishtopov is a Market Analyst at Investizo with more than 15 years of experience in the financial markets industry and over a decade of trading experience. His areas of focus include forex and crypto markets, technical analysis, intraday trading and market behaviour.