Yesterday the American indices managed to rise. However, all three of them are going down today. 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 yesterday. The price finished the session above the R1 resistance level, slightly below 3980. However, it is going down heavily today. The price is already below the S1 support level. If the buyers don’t generate some serious appetite soon, the price could reach today’s S2 and 3880. But if they do, the price might return above the EMA 200 and 3950.
NASDAQ 100
NASDAQ 100 also managed to rise yesterday. The price finished the session slightly above the EMA 200 and 12050. However, it is going down heavily today. The price is already significantly below the S1 support level. If the buyers don’t generate some serious appetite soon, the price could drop below 11700 and reach today’s S2. But if they do, the price might return above today’s S1 and reach 11900.
Dow Jones Industrial Average
The DJIA index rose strongly yesterday as well.The price finished the session significantly above the R1 resistance level and 31800. However, it is going down today. If the buyers don’t generate some serious appetite soon, the price could drop below the S1 support level and reach 31200. But if they do, the price might return above the Pivot Point and 31700.
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