- Day trading course l 866-640-3737 l Day trading education
Long term price action forming a pennant. The day has belonged to the bears up until 1:30 pm, after lunch buyers came in to move price up until there was a test of resistance at the top of the long term trendline at 1203. At this time price action is testing around 1196.25 . Next support level is 1191.50 and outer support level 1185.50. If support holds price will again reach upwards to test the upper trendline and then onto 1203, potentially reaching and testing upper resistance at 1216.
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