On Friday the American indices showed mixed sentiment. Today, all three of them are falling slowly. What can they do next? Let’s try to answer that question in an analysis, S&P 500 first:
S&P 500
Friday was a really interesting session. First, the S&P 500 rose above the R1 resistance level and 4535. Then, at the beginning of the American session, the price started falling. Three hours later, it even dropped below the Pivot Point and 4515. After that, the price started rising once again. In consequence, the S&P 500 finished the last session of the week slightly below 4530.
During today’s Asian trading session, the price reached 4520. Then, in the morning, it started rising slowly. If the buyers continue generating sufficient demand, the price might go up above 4530 today. But if the bears show their strength once again, the price could fall below today’s S1 support level and reach 4510.
NASDAQ 100
NASDAQ 100 also was really volatile on Friday. First, during the Asian trading session, the price dropped below 15880. Then, in the morning, it started rising. The price even reached 15920 in the early afternoon. After that, at the beginning of the American session, it started falling, though.
Three hours later, the price even dropped below the Pivot Point and 15830. Right after that, it started rising once again. The price even went up above the R1 resistance level and reached 15940 in the evening. However, during the last 90 minutes of the American trading session, it dropped a bit. In consequence, the NASDAQ 100 finished the day a little below 15900.
During today’s Asian trading session, the price fell below 15840. Then, in the morning, it started rising. If the buyers continue generating sufficient demand, the price might even reach today’s R1 and 15950. But if the bears show their strength once again, the price could fall below today’s S1 support level and reach 15820.
Dow Jones Industrial Average
The DJIA index was really volatile on Friday as well. First, during the Asian trading session, the price reached 35020. Then, at the beginning of the European trading session, it started rising. The price even went up above the R1 resistance level and 35160 in the early afternoon.
After that, at the beginning of the American session, it started falling, though. Three hours later, the price even dropped below the Pivot Point and 34950. Right after that, the price started rising once again. In consequence, the Dow Jones Industrial Average finished the last session of the week a little above the Pivot Point and 35010.
During today’s Asian trading session, the price fell below 34980. Then, in the morning, it started rising. If the buyers continue generating sufficient demand, the price might even reach 35100 today. But if the bears show their strength once again, the price could fall below 34920 and reach today’s S1 support level.
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