Technical analysis SPX500 for 08.09.2023
The Tenkan-sen line is located below the Kijun-sen line. Both lines are directed downward. Confirmatory line Chikou Span is below the price chart
The Tenkan-sen line is located below the Kijun-sen line. Both lines are directed downward. Confirmatory line Chikou Span is below the price chart. In this case, the cloud turned over from ascending to descending. Instrument corrected to the Tenkan-se line. The closest resistance is the level 4483.00. The closest support is the level 4431.00
Key levels
- 4540.00, 4515.00, 4483.00, 4431.00, 4405.00, 4373.00
Trading scenario
- Recommended opening long positions (Buy Stop) from the level of 4483.00, with Take Profit of 4515.00 and Stop Loss of 4460.00
Alternative scenario
- Recommended opening short positions (Sell Stop) from the level of 4431.00, with Take Profit of 4405.00 and Stop Loss of 4460.00
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.