Yesterday the American indices went down. Today all three of them are rising, though. What can they do next? Let’s try to answer that question in an analysis, S&P 500 first:
S&P 500
The S&P 500 dropped significantly yesterday. The price finished the session slightly above the S1 support level, a little below 3970. However, it is rising today. If the buyers continue generating firm demand, the price might go up above the R1 resistance level and reach the EMA 200. But if the bears counterattack, the price could return below 3970.
NASDAQ 100
NASDAQ 100 also went down yesterday, The price finished the session at 12040. However, it is rising today. If the buyers continue generating firm demand, the price might go up above the R1 resistance level and reach 12150. But if the bears counterattack, the price could return below the Pivot Point and 12050.
Dow Jones Industrial Average
The DJIA index was the weakest one yesterday. The price dropped heavily and finished the session significantly below the S1 support level, slightly below 32700. However, it is rising today. If the buyers continue generating firm demand, the price might go up above 32850. But if the bears counterattack, the price could fall below 32650 today.
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