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 6640.19 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 resistance level is near the 6872.87 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:
Despite the downward dynamics prevail on a higher time-frame, the long position should be prioritized intraday. The latest signal on the chart indicates the prevalence of the upward movement intraday.
