Technical analysis SPX500 for 16.08.2023
Intraday
Technical
The Tenkan-sen line is located below the Kijun-sen line. Both lines are horizontal. Confirmatory line Chikou Span is below the price chart
The Tenkan-sen line is located below the Kijun-sen line. 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 15250.00. The closest support is the level 14910.00
Key levels
- 15785.00, 15470.00, 15250.00, 14910.00, 14720.00, 14250.00
Trading scenario
- Recommended opening long positions (Buy Stop) from the level of 15250.00, with Take Profit of 15470.00 and Stop Loss of 15100.00
Alternative scenario
- Recommended opening short positions (Sell Stop) from the level of 14910.00, with Take Profit of 14720.00 and Stop Loss of 15100.00
Scenario
Recommendation
BUY STOP
Entry Point
15250.00
Take Profit
15470.00
Stop Loss
15100.00
Key Levels
15785.00, 15470.00, 15250.00, 14910.00, 14720.00, 14250.00
Alternative scenario
Recommendation
SELL STOP
Entry Point
14910.00
Take Profit
14720.00
Stop Loss
15100.00
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.