During the previous trading session, S&P 500 demonstrated downward dynamics. On a longer time-frame, the upward trend still prevails.
The support and resistance levels:
The nearest support is set at the 6686.15 mark.
The Penetrating Line pattern formed this level. The pattern consists of two candles: the first one has a long black body, the second one has a white body. The second candle opens with a gap down and closes above the middle of the first candle’s body.
The nearest resistance is set at the 6751.78 mark.
The Bearish Engulfing pattern formed this level. It consists of two Japanese candles: the first candle is located inside the body of the second candle.
Trading recommendations:
The latest signal prioritizes short positions intraday.
