Yesterday the American indices went down. Today all three of them are rising strongly, 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 went down a bit yesterday. The price finished the session a little below 3670. Today it is rising strongly, though. The price is already above the R1 resistance level and 3720. If the buyers continue generating firm demand, the price might go up above 3750 and reach the EMA 200 and today’s R2. But if the bears counterattack, the price could return below 3700 and reach the Pivot Point.
NASDAQ 100
NASDAQ 100 also went down a bit yesterday. The price finished the session at 11315. Today it is rising strongly, though. Right now the bulls are attacking 11500. If they do it successfully, the price might go up above the EMA 200 and reach 11650 and the R2 resistance level. But if they fail, the price could return below 11400 and reach the Pivot Point.
Dow Jones Industrial Average
The DJIA index went down yesterday as well. The price finished the session a little above 29330. Today it is rising strongly, though. The price is already above the R1 resistance level and 29700. If the buyers continue generating firm demand, the price might go up above 29900 and reach today’s R2. But if they fail, the price could return below 29500 and reach the Pivot Point.
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