Yesterday the American indices rose strongly. All three of them finished the session high above their R1 resistance levels. However, they are going down today. What can they do next? Let’s try to answer that question in an analysis, S&P 500 first:
S&P 500
Yesterday was a good bullish session. The S&P 500 rose strongly and finished the day high above the R1 resistance level, at 3980. However, it is going down today. If the buyers don’t generate some serious appetite, the price could drop to the Pivot Point, the EMA 200 and 3950 today. But if they do, the price might even reach 4000.
NASDAQ 100
NASDAQ 100 also rose strongly yesterday. The price finished the session high above the R1 resistance level, slightly below 12270. However, it is going down today. If the buyers don’t generate some serious appetite, the price could drop below the Pivot Point and reach 12150 today. But if they do, the price might rise above 12350.
Dow Jones Industrial Average
The DJIA index rose strongly yesterday as well. The price finished the session above the R1 resistance level, at 31570. However, it is going down today. If the buyers don’t generate some serious appetite, the price could drop to the Pivot Point and 31400 today. But if they do, the price might rise above 31700.
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