Thursday, August 2, 2018

Dow Jones - 03 August 2018

  • Stocks
  • Dow Jones

Fundamental Highlights

Today's U.S. employment report will give the market greater sense of the direction of the economy. Stocks mostly closed on a higher note, as technology heavyweight Apple became the first U.S. company to hit the 1 trillion market cap, flooding the news headlines. However, trade-related concerns rise as President Donald Trump pursues his hard-line trade policies and cap the upside.

Technical Analysis

As seen on the technical chart, the Dow moved downwards and crossed yesterdays support 25117 before regaining strength and moving towards the resistance. Today's direction seems to be downwards towards the 25106 support which if reached may either move further down towards the 25010 support or strengthen back upwards towards the 25434 resistance with the latter being the higher probability.

Support: 25106 25010
Resistance: 25434 25538

Chart (H1)