Technical analysis SPX500 for 11.08.2023
Intraday
Technical
Tenkan-sen and Kijun-sen lines are merged. Both lines are horizontal. Confirmatory line Chikou Span is below the price chart
Tenkan-sen and Kijun-sen lines are merged. 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 4522.00. The closest support is the level 4431.00
Key levels
- 4595.00, 4548.00, 4522.00, 4431.00, 4392.00, 4343.00
Trading scenario
- Recommended opening long positions (Buy Stop) from the level of 4522.00, with Take Profit of 4548.00 and Stop Loss of 4475.00
Alternative scenario
- Recommended opening short positions (Sell Stop) from the level of 4431.00, with Take Profit of 4392.00 and Stop Loss of 4475.00
Scenario
Recommendation
BUY STOP
Entry Point
4522.00
Take Profit
4548.00
Stop Loss
4475.00
Key Levels
4595.00, 4548.00, 4522.00, 4431.00, 4392.00, 4343.00
Alternative scenario
Recommendation
SELL STOP
Entry Point
4431.00
Take Profit
4392.00
Stop Loss
4475.00
Author
Nikolai Krishtopov
Market Analyst & Marketing Manager, Investizo
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.