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NASDAQ, S&P500, and Dow drop as oil prices rise to the highest level since 2008. Brent Crude trades more than $12 per barrel after the US considers embargo on Russian imports.
On Friday all three American indices went down. Moreover, after the weekend they opened much lower and have been falling since then. 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 below the S1 support level, above 4,320. However, after the weekend it opened 50 pips lower and has been falling even more since then. Right now the price is a little above 4,250. If the buyers don't generate some serious appetite soon, the price could drop below today's S2 and reach 4,230. But if they do, the price might return above today's S1 and reach 4,300.
NASDAQ 100
NASDAQ 100 dropped significantly on Friday. The price finished the last session of the week significantly below the S1 support level, a little above 13,830. However, after the weekend it opened 180 pips lower and started falling even more. If the buyers don't generate some serious appetite soon, the price could go down below today's S2 and reach 13,500. But if they do, the price might return above today's S1 and reach 13,700.
Dow Jones Industrial Average
The DJIA index went down on Friday as well. The price finished the last session of the week a little above the S1 support level and 33,500. However, after the weekend it opened 300 pips lower and has been falling even more since then. Right now the price is slightly above 33,000. If the buyers don't generate some serious appetite soon, the price could drop below today's S2 and reach 32,800. But if they do, the price might return above today's S1 and reach 32,300.
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