Yesterday the American indices managed to rise a bit. Today all three of them 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 managed to rise yesterday. The price finished the session at 3715, exactly at the R1 resistance level. Today it is going up even more. The price is already above 3740 and today’s R1. If the buyers continue generating firm demand, the price might rise above 3760 and reach today’s R2. But if the bears counterattack, the price could return below 3720.
NASDAQ 100
NASDAQ 100 also managed to rise yesterday. The price finished the session at 11420, exactly at the R1 resistance level. Today it is going up even more. The price is already above 11500 and today’s R1. If the buyers continue generating firm demand, the price might rise above today’s R2 and reach 11600. But if the bears counterattack, the price could drop to the EMA 200.
Dow Jones Industrial Average
The DJIA index managed to rise a bit yesterday as well. The price finished the session above 30100, slightly below the R1 resistance level. Today it is going up even more. The price is already above 30300 and today’s R1. If the buyers continue generating firm demand, the price might reach 30500 and today’s R2. But if the bears counterattack, the price could return below 30200.
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