Technical analysis SPX500 for 31.10.2023
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 traded between Tenkan-se and Kijun-sen lines. The closest resistance is the level 4215.00. The closest support is the level 4140.00
Key levels
- 4300.00, 4265.00, 4215.00, 4140.00, 4100.00, 4060.00
Trading scenario
- Recommended opening long positions (Buy Stop) from the level of 4215.00, with Take Profit of 4265.00 and Stop Loss of 4150.00
Alternative scenario
- Recommended opening short positions (Sell Stop) from the level of 4140.00, with Take Profit of 4100.00 and Stop Loss of 4150.00
Scenario
Recommendation
BUY STOP
Entry Point
4215.00
Take Profit
4265.00
Stop Loss
4150.00
Key Levels
4300.00, 4265.00, 4215.00, 4140.00, 4100.00, 4060.00
Alternative scenario
Recommendation
SELL STOP
Entry Point
4140.00
Take Profit
4100.00
Stop Loss
4150.00
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.