On Friday the American indices showed mixed sentiment. 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 reached 4390. Then, at the beginning of the European trading session, the price started falling. It even dropped below the S1 support level and reached 4350 at the beginning of the American trading session. Right after that, the price started rising. In consequence, the S&P 500 finished the last session of the week slightly above 4380.
During the Asian trading session, the price dropped to the Pivot Point. Then, at the beginning of the European trading session, it started rising. If the buyers continue generating firm demand, the price might go up above today’s R1 resistance level and reach 4410. But if the bears counterattack, the price could fall to 4370 today.
NASDAQ 100
NASDAQ 100 also was really volatile on Friday. First, during the early hours of the Asian trading session, the price reached 14790. Then, it started falling. The price even dropped below the S1 support level and reached 14610 at the beginning of the American trading session. Right after that, it started rising. In consequence, the NASDAQ 100 finished the last session of the week at 14750.
During the Asian trading session, the price dropped to the Pivot Point and 14720. Then, at the beginning of the European trading session, it started rising. If the buyers continue generating firm demand, the price might go up above today’s R1 resistance level and reach 14850. But if the bears counterattack, the price could fall below 14700 today.
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 reached 34600. Then, at the beginning of the European trading session, it started falling. The price even dropped below the S1 support level and reached 34330 at the beginning of the American trading session. Right after that, it started rising. In consequence, the Dow Jones Industrial Average finished the last session of the week slightly below 34600.
During the Asian trading session, the price dropped to the Pivot Point. Then, at the beginning of the European trading session, it started rising. If the buyers continue generating firm demand, the price might go up above 34700 and reach today’s R1 resistance level. But if the bears counterattack, the price could fall below 34500 today.
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