Yesterday the American indices went down one more time. However, all three of them 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
Yesterday the S&P 500 dropped once again. The price finished the session below the S1 support level, at 4570. However, it is rising today. If the buyers continue generating firm demand, the price might go up above the R1 resistance level and the EMA 200. But if the bears counterattack, the price could drop below the Pivot Point.
NASDAQ 100
NASDAQ 100 dropped a bit yesterday. The price finished the session below 15700, slightly above the S1 support level. However, it is rising today. If the buyers continue generating firm demand, the price might go up above the R1 resistance level and the EMA 200 or even above 15900. But if the bears counterattack, the price could drop below the Pivot Point.
Dow Jones Industrial Average
The DJIA index was the weakest one yesterday. The price dropped significantly below the S1 support level and finished the session at 34900. However, it is rising today. If the buyers continue generating firm demand, the price might go up above the R1 resistance level and the EMA 200. But if the bears counterattack, the price could return below the Pivot Point.
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