Sunday, August 5, 2018

Dow Jones - 06 August 2018


Fundamental Highlights

Most U.S. stocks closed higher on Friday, as investors pored through newly proposed tariffs on U.S. goods by China and newly released job data. July’s jobs data turned out to be below expectations, but still supported the belief that the economy is in an expansionary mode. An additional 157,000 new jobs were added by the U.S. last month, which was below the 195,000 in survey, among extensive complaints regarding shortage in skilled labor. Dow ended up gaining 133 points finishing off the week flat.

Technical Analysis

The Dow finished the week with a gain of 133 points reaching Friday’s resistance of 25434 and crossing it slightly before turning back downwards. After having a good ending last week, we see a move downwards for the Dow maybe reaching the support of 25272 before either moving back upwards or continuing even further downwards towards the second support of 25113.

Support: 25272 25113
Resistance: 25462 25538

Chart (H1)