Wednesday, September 5, 2018

DOWJONES - 05 September 2018

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Fundamental Highlights

U.S. equities started September on a weak note with all indices closing lower. The key focus for investors was the trade tensions with the U.S. scheduled to restart negotiations with its northern neighbor which could lead to revising the North American Free Trade Agreement. Markets will continue to keep an eye out for any additional trade news as usual. The U.S. also indicated that the tariffs on an additional $200 billion in Chinese goods will begin this Thursday with China likely to retaliate in kind.

Technical Analysis

The Dow fell 12 points in the previous session. The Index may see a movement towards the 25842 area in today's session before rebounding back up in the direction of the 26059 figure. The rising RSI on the chart below suggests that more positive momentum is in place for the time being.

Support: 25842 25624
Resistance: 26059 26167

Chart (H1)
DOWJONES

 
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