S&P 500 closes the last trading session in the green zone, while the downward price movement vector prevails on the higher time-frame.
The support and resistance levels:
The support level is near the 7300.07 mark.
This level was formed by the Bullish Harami pattern. The pattern is represented with two Japanese candles, where the second one with a smaller real body is inside the body of the first one.
The resistance level is near the 7437.87 mark.
As part of the formation of the level, the Identical Three Crows pattern was formed. This pattern consists of three consecutive Japanese candlesticks with identical long black bodies. Each candle opens at the closing level of the previous one and closes at a new low.
Trading recommendations:
The latest signal on the chart indicates the prevalence of the long positions. This signal is valid, until the other pattern is formed.
