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
The S&P 500 managed to rise on Friday. The price finished the last session of the week slightly below the EMA 200, at 3870. Today, after the Christmas Holiday, it opened 14 pips higher and has been going up since then. If the buyers continue generating firm demand, the price might rise above the R2 resistance level and reach 3910. But if the bears counterattack, the price could return below 3880.
NASDAQ 100
NASDAQ 100 managed to rise a bit on Friday. The price finished the last session of the week at 11080. Today, after the Christmas Holiday, it opened 50 pips higher and has been going up since then. If the buyers continue generating firm demand, the price might rise above the EMA 200 and reach 11220. But if the bears counterattack, the price could drop to 11100.
Dow Jones Industrial Average
The DJIA index managed to rise on Friday as well. The price finished the last session of the week slightly below 33390. Today, after the Christmas Holiday, it opened 90 pips higher and has been going up since then. If the buyers continue generating firm demand, the price might even reach the R2 resistance level today. But if the bears counterattack, the price could return below 33400.
SSL Secured