Stocks Mixed as Oil Prices Fall

Dow rises while S&P500 and NASDAQ trade mixed below EMA 200 after oil prices slightly drop. Brent was down by $4.12 at $108.55 a barrel and WTI declined to $105.40.

On Friday all three American indices went down significantly. Today the S&P 500 and the NASDAQ 100 are showing mixed sentiment, but the Dow Jones Industrial Average is rising. What can they do next? Let's try to answer that question in analysis, S&P 500 first:

S&P 500

The S&P 500 went down on Friday. The price finished the last session of the week a little below the S1 support level, slightly above 4,200. However, after the weekend it opened 20 pips higher. Then, the price has been showing mixed sentiment. If the buyers take control over the market, the price might rise above the EMA 200 and reach 4,260. But if the bears show their strength, the price could drop below 4,200.

NASDAQ 100

NASDAQ 100 was the weakest one on Friday. The price went down significantly and finished the last session of the week below the S1 support level, at 13,300. However, after the weekend it opened 90 pips higher. Then, the price has been showing mixed sentiment. If the buyers take control over the market, the price might rise above the Pivot Point and reach 13,500. But if the bears show their strength, the price could drop below 13,200.

Dow Jones Industrial Average

The DJIA index went down on Friday as well. The price finished the last session of the week significantly below the Pivot Point, slightly above 32,900. However, after the weekend it opened 150 pips higher. Then, the price has been rising slowly. If the buyers continue generating sufficient demand, the price might reach 33,400 today. But if the bears counterattack, the price could return below 33,000.

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