Friday, August 17, 2018

DOWJONES - 17 August 2018

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Fundamental Highlights

U.S. stocks rallied overnight, closing firmly higher than the previous session with the Dow reaching its best day in 4 months all thanks to strong corporate earnings. Hopes that the U.S. and China may resolve their trade bickering after reports said China would send a delegation to the United States later in August for further trade talks. Following these reports, Treasury prices fell and equities rose as investors rotated from bonds into stocks, suggesting that a greater appetite for riskier assets are returning.

Technical Analysis

Dow rallied 396 points in yesterday's session. Today the index may move even further upward towards the 25697.0 level and rally further towards the 25807.5 resistance which is the area of the highest point reached back in Feb 2018.

Support: 25168.0 24960.0
Resistance: 25697.0 25807.5

Chart (H4)
DOWJONES_20180817

 
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