Technical analysis SPX500 for 17.10.2023
The Tenkan-sen line is located below the Kijun-sen line. Both lines are horizontal. Confirmatory line Chikou Span crosses from top to bottom the price chart
The Tenkan-sen line is located below the Kijun-sen line. Both lines are horizontal. Confirmatory line Chikou Span crosses from top to bottom the price chart. In this case, the cloud is ascending. Instrument is trading above the Tenkan-se and Kijun-sen lines. The closest resistance is the level 1397.00. The closest support is the level 4331.00
Key levels
- 4459.00, 4433.00, 1397.00, 4331.00, 4300.00, 4265.00
Trading scenario
- Recommended opening long positions (Buy Stop) from the level of 1397.00, with Take Profit of 4433.00 and Stop Loss of 4370.00
Alternative scenario
- Recommended opening short positions (Sell Stop) from the level of 4331.00, with Take Profit of 4300.00 and Stop Loss of 4370.00
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.