Pivot Points levels for S&P 500 in the Asian session:
PP: 7748.57;S1: 7703.44; S2: 7674.16; S3: 7629.03;R1: 7777.85; R2: 7822.98; R3: 7852.26.
The chart generated the value Pivot Points in the area 7748.57. 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 7703.44, S2 7674.16, and S3 7629.03 levels.
The resistance levels are marked with red and are located at R1 7777.85, R2 7822.98 and R3 7852.26.
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.
