On Friday, the American indices managed to rise significantly. The S&P 500 and the Dow Jones Industrial Average finished the session above their R1 resistance levels, NASDAQ 100 was a bit weaker. After the weekend all three of them opened even higher, but after that they started going down. Right now they are significantly lower than they were on Friday evening. What can they do next? Let’s try to answer that question in an analysis:
S&P 500
The S&P 500 rose significantly on Friday. The price finished the last session of the week above the R1 resistance level. Moreover, after the weekend it opened much higher. However, the price has been going down since then. Right now it is below the EMA 200. If the buyers don’t generate some serious demand soon, the price could drop below 3800 in the next few hours. But if they do, the price might even reach the R1.
NASDAQ 100
NASDAQ 100 also rose a bit on Friday. The price finished the week above 12650. Furthermore, after the weekend it opened almost 100 pips higher. However, the price has been going down since then. Right now it is below the Pivot Point. If the buyers don’t generate some serious demand soon, the price could drop below the S1 support level today. But if they do, the price might rise and reach the EMA 200.
Dow Jones Industrial Average
The DJIA index significantly went up on Friday as well. The price finished the last session of the week above the R1 resistance level. What is more, after the weekend it opened almost 250 pips higher. However, the price has been going down since then. Right now it is below last week’s closing price. If the buyers don’t generate some serious demand soon, the price could drop to the EMA 200 and the Pivot Point. But if they do, the price might even rise to 32000.
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