On Friday the American indices went down. Today all three of them are falling even more. 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 dropped below 4440. Then, at the beginning of the American trading session, the price started rising significantly. It even reached 4475 in the early evening. However, during the last hours of the American trading session, the price started falling once again. In consequence, the S&P 500 finished the day slightly above 4430.
Today the price is falling even more. It is already below today’s S1 support level and 4420. If the buyers don’t generate some serious appetite soon, the price could even drop to 4400 today. But if they do, the price might reach 4430.
NASDAQ 100
NASDAQ 100 also was really volatile on Friday. First, during the Asian trading session, the price dropped below 15180. Then, at the beginning of the European trading session, it started rising strongly. The price even went up above the R1 resistance level and 15350 in the early evening. However, during the last hours of the American trading session, it started falling once again. In consequence, the NASDAQ 100 finished the day a little above 15170.
Today the price is falling even more. It is already below today’s S1 support level and 15120. If the buyers don’t generate some serious appetite soon, the price could even drop to 15050. But if they do, the price might return above 15150.
Dow Jones Industrial Average
The DJIA index was really volatile on Friday as well. First, the price dropped below 33970. Then, at the beginning of the European trading session, it started rising. The price reached 34240 in the early evening. However, during the last hours of the American trading session, it started falling once again. In consequence, the Dow Jones Industrial Average finished the day a little below 33950.
During today’s Asian trading session, the price dropped below today’s S1 support level and reached 33800. However, it started rising at the beginning of the European trading session. If the buyers continue generating sufficient demand, the price might even reach 34000 today. But if the bears counterattack, the price could drop to 33750.
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