The Pivot Points levels for Microsoft for the U.S. session:
PP: 518.24;S1: 511.61; S2: 507.97; S3: 501.34;R1: 521.88; R2: 528.51; R3: 532.15.
The chart generated the value Pivot Points in the area 518.24. Since the market opened below this level, it indicates a prevailing pessimistic mood. In this case, intraday the trader should tend to look for entry points into short positions.
Trading recommendations:
The support levels, marked green on the chart, are at the S1 511.61, S2 507.97, and S3 501.34 levels.
The resistance levels are marked with red and are located at R1 521.88, R2 528.51 and R3 532.15.
The entry points should be considered at the PP level and when the price rolls back to the area of the resistance levels marked with red. The transaction closes when the price reaches the S1, S2, S3 levels.
