Weakened at last week's markets closing, the buyer shows its power in the Asian session. Pay attention to these important levels.

Friday’s session was really interesting and brought us some mixed sentiment. Firstly, the American indices strongly went up, but in the afternoon they dropped significantly, two of them even finished the week below the EMA 200. Since the start of today’s Asian trading session, they are strongly going up, though. What can they do next? Let’s try to answer that question in an analysis.

 

S&P 500

The S&P 500 was really strong at first on Friday, it even breached the R1 resistance level. However, in the afternoon the price started falling strongly and in consequence finished the week below the EMA 200.

Today, the price is rising once again. It’s already above the Pivot Point and pretty close to the R1 resistance level. If the buyers don’t stop generating firm demand, the price might even reach the R2 today. But if they do, we might see a pullback to the EMA 200.

snp today

 

NASDAQ 100

NASDAQ 100 looked similar during Friday's trading session. It also attacked the R1 resistance level, but failed to hold above it and, in consequence, dropped significantly deeper than the S&P 500. Today the price is also going up, but not as strongly.

If the buyers continue generating sufficient demand, the price might attack the R1 and test 12000. But if they fail, the price could not only go down the EMA 200 and the Pivot Point, but it may even drop to the S1 support level.

nasdaq today

 

Dow Jones Industrial Average

Surprisingly, the DJIA index was the strongest of all three on Friday. The price even tested the R2 resistance level, and finished the week above the EMA 200, slightly below the R1. Today, the price is also going up and it seems that it will reach the R1 pretty soon. However, the bears could decide to counterattack. If they do, the price might fall to the Pivot Point or even test the EMA 200.

djia today

 

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