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 6956.93 mark.
This level was formed by the Three Inside Up pattern. This pattern consists of three Japanese candles: the first candle has a short white real body, the second candle has a white real body and is completely inside the body of the first candle, and the third candle is also white and closes above the body of the second candle.
The nearest resistance level is at the level of the 7151.99.
The level was formed due to the “Bearish Harami Cross” pattern. It consists of two Japanese candlesticks, where the second candlestick is a doji, which is located inside the body of the first candlestick.
Trading recommendations:
The latest signal prioritizes short positions intraday.
