On Thursday the American indices managed to rise. All three of them finished the session above their R1 resistance levels. On Friday, the US stock market was closed due to Christmas. Today, they are showing mixed sentiment and the volatility is really low. What can they do next? Let’s try to answer the question in an analysis, S&P 500 first:
S&P 500
The S&P 500 rose significantly on Thursday. The price finished the last session of the week above the R1 resistance level. Today it is showing mixed sentiment and the volatility is very low. If the buyers show their strength once again, the price might rise above today’s R1 and 4740. But if the bears take control over the market, the price could drop below 4700 and reach the S1 support level.
NASDAQ 100
NASDAQ 100 also rose significantly on Thursday. The price finished the last session of the week above the R1 resistance level, at 16300. After the weekend, it opened 30 pips higher today, but it has been showing mixed sentiment since then. The volatility is very low. If the buyers show their strength once again, the price might rise above today’s R1 and reach 16400. But if the bears take control over the market, the price could drop below 16200 and reach the S1 support level.
Dow Jones Industrial Average
The DJIA index rose significantly on Thursday as well. The price finished the last session of the week above the R1 resistance level, above 35800. Today it is showing mixed sentiment and the volatility is very low. If the buyers show their strength once again, the price might rise above today’s R1 and reach 36000. But if the bears take control over the market, the price could drop to the S1 support level.
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