Yesterday the American indices dropped significantly once again. However, they are rising today. 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 heavily yesterday. The price finished the session at the S2 support level. Today it is rising, though. The price is already above the Pivot Point and 4650. If the buyers continue generating firm demand, the price might rise above the EMA 200. But if the bears counterattack, the price could fall to 4620.
NASDAQ 100
NASDAQ 100 also dropped deeply yesterday. The price finished the session below the S2 support level. However, it is rising today. It’s already above 16000. If the buyers continue generating firm demand, the price might reach the EMA 200. But if the bears counterattack, the price could fall to 15900.
Dow Jones Industrial Average
The DJIA index dropped heavily as well. The price finished the session significantly below the S1 support level. However, it is rising today. It’s already above 36000. If the buyers continue generating firm demand, the price might rise above the EMA 200. But if the bears counterattack, the price could fall to 35800.
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