On Friday the American indices rose strongly. 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
Friday was a great bullish session. The S&P 500 rose strongly and finished the last session of the week a little above the R3 resistance level, at 3920. Today it is going up even more. The price is already above 3940. If the buyers continue generating firm demand, the price might rise above 3960 today. But if the bears counterattack, the price could drop below 3910.
NASDAQ 100
NASDAQ 100 also rose strongly on Friday. The price finished the last session of the week high above the R2 resistance level, slightly above 12140. Today it is going up even more. The price is already above 12200. If the buyers continue generating firm demand, the price might rise above 12300 today. But if the bears counterattack, the price could drop below 12100.
Dow Jones Industrial Average
The DJIA index rose strongly on Friday as well. The price finished the last session of the week slightly above the R3 resistance level, at 31500. Today it is going up even more. The price is already above 31600. If the buyers continue generating firm demand, the price might rise above 31800 today. But if the bears counterattack, the price could drop below 31400.
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