On Friday the American indices went down. Yesterday they managed to rise a bit, but the volatility was really low, due to the national holiday in the US. Today all three of them are going up even more. 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 went down on Friday. The price finished the last session of the week at the S1 support level, slightly below 3930. Yesterday it managed to rise a little, but the volatility was really low. Today the price is going up even more. It is already above the R1 resistance level and 3950. If the buyers continue generating firm demand, the price might rise above today’s R2 and reach the EMA 200. But if the bears counterattack, the price could return below 3940.
NASDAQ 100
NASDAQ 100 dropped significantly on Friday. The price finished the last session of the week at the S1 support level, slightly above 12100. Yesterday it managed to rise a little, but the volatility was really low. Today the price is going up even more. It is already above the R1 resistance level and 12200. If the buyers continue generating firm demand, the price might rise above today’s R2 and reach the EMA 200. But if the bears counterattack, the price could fall below 12150.
Dow Jones Industrial Average
The DJIA index dropped significantly on Friday as well. The price finished the last session of the week slightly below the S1 support level. Yesterday it managed to rise a little, but the volatility was really low. Today the price is going up even more. Right now the bulls are attacking the R1 resistance level. If they do it successfully, the price might rise above today’s R2 and reach the EMA 200. But if they fail, the price could fall to the Pivot Point and 31400.
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