Tuesday, August 7, 2018

Dow Jones - 08 August 2018


Fundamental Highlights

U.S. stocks closed higher, as investors focus on solid corporate quarterly results over worries on U.S. trade relations with international counterparts. The Trade Representative's office stated on Tuesday that the United States will begin collecting tariffs on another $16 billion of Chinese goods on August 23rd as it published a final tariff list targeting 279 import product lines.

Technical Analysis

The Dow closed with a gain of 127 points. The main trend for the Dow seems upwards. After yesterday's session a higher resistance of 25627.5 was created. I believe that the trend will continue upwards and break through the resistance of 25627.5 and continue further towards the 25680.0 area before switching directions and moving back downwards again.

Support: 25355.5 25266.0
Resistance: 25627.5 25680.0

Chart (H1)