Positive sentiment prevailed during today's European session. However, after US investors entered the market, gains on global stock indices accelerated. In this short post we will focus on the current technical situation on the US30, US500 and US100.
Source: xStation5
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US30
Dow Jones futures (US30) managed to leave the downtrend channel yesterday, and today we observe an attempt to negate the broad 1:1 system. The resistance at the level of 32245 points was crossed without any major problems, which may mean that buyers are taking the initiative. Confirmation of the change of sentiment in the short term to an upward one, will be defeat of resistance at 32670 points.
Source: xStation5
US100
As far as the Technology Index (US100) is concerned, quotations crossed the key resistance zone at 12090 points, which may herald the extension of the upward correction. If this scenario comes true, the next target for market bulls will be the level of 12350 points, where the upper limit of the wide 1:1 system falls. If this level is also pushed through, the next resistance falls at 12550 points. This level results from the classic AT - previous price reactions (bottoms and tops).
Source: xStation5
US500
Finally, a quick look at the US500, where we are also seeing solid increases today. Looking at the H4 interval, however, quotations reached the key resistance, which results from the upper limit of the 1:1 system. In case of a sellers' reaction here, quotations may retreat towards 3980 points. On the other hand, negation of the mentioned 1:1 system may pave the way towards the resistance at 4100 points.
Source: xStation5
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