On Friday the American indices dropped heavily. 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
The S&P 500 dropped heavily on Friday. The price finished the last session of the week slightly below the S1 support level and 3980. However, it is rising today. If the buyers continue generating firm demand, the price might go up above 4010 and reach the EMA 200 and the R1 resistance level. But if the bears counterattack, the price could fall below the Pivot Point and 3980.
NASDAQ 100
NASDAQ 100 also dropped heavily on Friday. The price finished the last session of the week significantly below the S1 support level, a little below 12000. However, it is rising today. If the buyers continue generating firm demand, the price might go up above 12100. But if the bears counterattack, the price could fall below the Pivot Point and 12000.
Dow Jones Industrial Average
The DJIA index dropped significantly on Friday as well. The price finished the last session of the week slightly below the S1 support level and 32850. However, it is rising today. The price is already above 32900. If the buyers continue generating firm demand, the price might even go up above 33100 and reach the R1 resistance level. But if the bears counterattack, the price could fall below the Pivot Point and reach 32800.
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