Thursday, September 13, 2018

DOWJONES - 13 September 2018

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Fundamental Highlights

Investors have been following the fight between the U.S. and China in particular this week, as analysts warn that a full-blown trade war would hurt economic growth. U.S. equities benchmarks were mostly higher yesterday with the S&P 500 and the Dow bouncing back from lows. The Wall Street Journal reported that the US sent China an invitation to open trade talks again. The talks will be led by USTS Mnuchin and will involve Vice Premier Lui He. This round of talks should be a positive step if the U.S. decides to hold off additional tariffs before meeting with the Chinese. Last Friday President Donald Trump said he was "ready to go" on additional tariffs of $267 billion of Chinese goods "if he wants," which would be on top of the previously proposed tariffs on $200 billion in goods already being considered.

Technical Analysis

The Dow had a gain of about 29 points during Wednesday's session. After a good session for the index yesterday, the Dow may continue gaining ground and make a bullish move towards the 26052 figure and if it breaks this resistance it may continue further in the direction of the 26088 area. During Thursday's session the Dow seems to be a good buy.

Support: 25883 25781
Resistance: 26052 26088

Chart (H1)
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