On Friday the American indices rose strongly. All three of them finished the last session of the week above their R2 resistance levels. Today they 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
Friday was a great bullish session. The S&P 500 rose strongly and finished the last session of the week above the R2 resistance level, slightly below 4170.Today it is going up even more. If the buyers continue generating firm demand, the price might rise above today’s R1 and reach 4200. But if the bears counterattack, the price could drop to the Pivot Point and 4150.
NASDAQ 100
NASDAQ 100 also rose strongly on Friday. The price finished the last session of the week above the R2 resistance level, slightly below 12600. Today it is going up even more. If the buyers continue generating firm demand, the price might rise above today’s R1 and 12700. But if the bears counterattack, the price could drop below 12550.
Dow Jones Industrial Average
The DJIA index rose strongly on Friday as well. The price finished the last session of the week above the R2 resistance level, a little above 32160. Today it is going up even more. If the buyers continue generating firm demand, the price might rise above 33300. But if the bears counterattack, the price could drop below 33100.
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