Friday was a really volatile session. In the end all three American indices showed mixed sentiment. After the weekend they opened much higher and they have been going up slowly since then. 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 was really volatile on Friday. First the price rose to the R1 resistance level. After that, in the afternoon, it dropped heavily and tested the S2 support level. However, the price managed to rise in the evening and finished the last session of the week exactly at the Pivot Point, a little below 3900. After the weekend it opened 20 pips higher and has been going up slowly since then. If the buyers continue generating firm demand, the price might rise above 3960 and today’s R1. But if the bears counterattack, the price could fall to 3910.
NASDAQ 100
NASDAQ 100 was also really volatile on Friday. First the price rose to the R1 resistance level. After that, in the afternoon, it dropped heavily and tested the S2 support level. However, the price managed to rise in the evening and finished the last session of the week slightly above 11830. After the weekend it opened 80 pips higher and has been going up slowly since then. If the buyers continue generating firm demand, the price might rise above 12100 today and reach today’s R1. But if the bears counterattack, the price could fall to 11800.
Dow Jones Industrial Average
The DJIA index was really volatile on Friday as well. First the price rose to the R1 resistance level. After that, in the afternoon, it dropped heavily to the S2 support level. However, the price managed to rise in the evening and finished the last session of the week a little below the Pivot Point, at 31200. After the weekend it opened 170 pips higher and has been going up slowly since then. If the buyers continue generating firm demand, the price might rise high above today’s R1 and reach 31800. But if the bears counterattack, the price could fall to 31300.
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