Technical analysis SPX500 for 16.03.2022
The Tenkan-sen line crosses bottom upward the Kijun-sen line. Both lines are directed upwards. Confirmatory line Chikou Span is above the price chart
The Tenkan-sen line crosses bottom upward the Kijun-sen line. Both lines are directed upwards. Confirmatory line Chikou Span is above the price chart. In this case, the cloud is descending. Instrument is trading above the Tenkan-se and Kijun-sen lines. The closest resistance is the level 4340. The closest support is the level 4295
Key levels
- 4415, 4380, 4340, 4295, 4260, 4260, 4230, 4195, 4150, 4115
Trading scenario
- Recommended opening long positions (Buy Stop) from the level of 4340, with Take Profit of 4380 and Stop Loss of 4315
Alternative scenario
- Recommended opening short positions (Sell Stop) from the level of 4295, with Take Profit of 4260 and Stop Loss of 4315
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.