On Friday the American indices managed to rise. 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 really interesting session. First, during the Asian trading session, the S&P 500 went down below the Pivot Point and 4290. Then, at the beginning of the European trading session, the price started rising strongly. It even reached 4325 in the afternoon. After that, the price started falling. It even dropped below 4300 in the late afternoon. However, in the early evening, the price managed to return above the R1 resistance level and 4310. During the last two hours of the American trading session, it went down once again, though. In consequence, the S&P 500 finished the day slightly below 4310.
Today, the price is rising even more. If the buyers continue generating firm demand, the price might go up above 4320 and reach today’s R1. But if the bears counterattack, the price could return below 4310.
NASDAQ 100
NASDAQ 100 also was really volatile on Friday. First, in the morning, the price went down and reached the EMA 200. Then it started rising strongly. The price even rose above 14680 at the beginning of the American trading session. After that, it started falling. The price even dropped below 14500 in the late afternoon. However, in the early evening, it managed to return above the R1 resistance level and 14610. During the last two hours of the American trading session, the price went down once again, though. In consequence, the NASDAQ 100 finished the day slightly above 14550.
Today, the price is rising even more. It is already above 14600. If the buyers continue generating firm demand, the price might go up above 14650 and even reach today’s R1. But if the bears counterattack, the price could drop below the Pivot Point.
Dow Jones Industrial Average
The DJIA index was really volatile on Friday as well. First, during the Asian trading session, the price went down below the Pivot Point and 33750. Then, at the beginning of the European trading session, it started rising strongly. The price even rose above the R1 resistance level at the beginning of the American trading session. After that, it started falling. However, in the late afternoon, the price started going up once again. It even reached R1 in the early evening. During the last two hours of the American trading session, the price went down a bit, though. In consequence, the Dow Jones Industrial Average finished the day slightly above 33900.
Today, the price is rising strongly, though. If the buyers continue generating firm demand, the price might go up above today’s R1 and even reach 34100. But if the bears counterattack, the price could drop to 33900.
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