Friday was a good bullish session. All three American indices rose significantly. 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
The S&P 500 rose significantly on Friday. The price finished the last session of the week above the R1 resistance level, exactly at 4710. Today it is going up even more. If the buyers continue generating firm demand, the price might rise high above today’s R1 and reach 4740. But if the bears counterattack, the price could drop to 4700.
NASDAQ 100
NASDAQ 100 also rose significantly on Friday. The price finished the week above 16320. Today it is going up even more. If the buyers continue generating firm demand, the price might rise high above the R1 resistance level today and reach 16500. But if the bears counterattack, the price could drop to 16300.
Dow Jones Industrial Average
The DJIA index rose significantly on Friday as well. The price finished the last session of the week above the R1 resistance level, slightly below 36000. Today it is going up even more. The price is already above today’s R1. If the buyers continue generating firm demand, the price might rise above 36200 today. But if the bears counterattack, the price could drop to 35900.
