S&P500
The price broke out of the consolidation range to the upside, but failed to capitalize on the opportunity, and the rally fizzled out. However, the reversal pattern still needs confirmation. The price closed below 7,500 on Friday, which is a sign of weakness. Later, the picture could change significantly only if the lower rising trendline is broken. Stronger support can be expected around the 6,875 level.
Resistance levels: 7,500; 7,656; 7,813.
Support levels: 6,875; 6,563; 6,250; 5,937; 5,781; 5,625.
