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 closest support to the price is 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 level is at the level of the 6887.46.
The level was formed by the Shooting Star pattern. This pattern is a single candlestick which is composed of a small real body and a long upper shadow. This pattern is usually called “Pin Bar” by traders.
Trading recommendations:
The latest signal prioritizes short positions intraday.
