On Friday the American indices went down. Today all three of them are rising, though. 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 really interesting session. First, during the early hours of the Asian trading session, the S&P 500 dropped below 4330. Then, the price started rising significantly. It even went up above the R1 resistance level and reached 4370 at the beginning of the American trading session. After that, the price started falling heavily. It even reached the S1 support level and 4310 in the evening. However, during the last 90 minutes of the American trading session, the price managed to rise once again. In consequence, the S&P 500 finished the day slightly below 4330.
After the weekend, the price opened 23 pips higher. During today’s Asian trading session, it dropped below 4340, though. Then, in the morning the price started rising. It even reached 4355 at the beginning of the European trading session. After that, the price started falling, though. If the buyers don’t generate some serious appetite soon, the price could drop to the Pivot Point. But if they do, the price might even go up above 4360 and reach today’s R1.
NASDAQ 100
NASDAQ 100 also was really volatile on Friday. First, during the early hours of the Asian trading session, the price dropped below 14830 and reached the Pivot Point. Then, it started rising significantly. The price even went up above the R1 resistance level and reached 15060 at the beginning of the American trading session. After that, it started falling heavily. The price even dropped below the Pivot Point and reached 14810 in the evening. However, during the last 90 minutes of the American trading session, it managed to rise once again. In consequence, the NASDAQ 100 finished the day at the EMA 200, slightly below 14870.
After the weekend, the price opened 98 pips higher. During today’s Asian trading session, it dropped to 14930, though. Then, in the morning the price started rising. It even reached 15010 at the beginning of the European trading session. After that, the price started falling, though. If the buyers don’t generate some serious appetite soon, the price could drop to 14920 today. But if they do, the price might even go up above today’s R1 and reach 15030.
Dow Jones Industrial Average
The DJIA index was really volatile on Friday as well. First, during the early hours of the Asian trading session, the price dropped below the Pivot Point and reached 33850. Then, it started rising significantly. The price even went up above the R1 resistance level and 34120 at the beginning of the American trading session. After that, it started falling heavily. In consequence, the Dow Jones Industrial Average finished the day below the S1 support level, at 33730.
After the weekend, the price opened 160 pips higher. During today’s Asian trading session, it dropped below the Pivot Point and 33820. Then, in the morning the price started rising. It even went up above 33930 at the beginning of the European trading session. After that, the price started falling, though. If the buyers don’t generate some serious appetite soon, the price could drop to 33800 today. But if they do, the price might even go up above the EMA 200 and reach 34000.
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