Wednesday, August 8, 2018

Dow Jones - 09 August 2018


Fundamental Highlights

After a four-day winning streak for the U.S. stock markets, the major indices mostly closed lower on Wednesday. This came after investors struggled with a new round of tariff clashes between Washington and Beijing. Moreover, this dip came on the back of a round of weak earnings from high-profile firms such as Snap Inc. and Walt Disney Co.

Technical Analysis

The Dow closed with a decline of 45.16 points. After a four-day upwards move, the Dow dipped lower. It looks likely that the US index will continue its move towards the 25424.5 support level. If it crosses that support level it may continue further to reach the 25356.0 support. The higher possibility is that once it reaches that first support of 25424.5 it would redirect upwards in the direction of the 25627.5 resistance.

Support: 25424.5 25356.0
Resistance: 25627.5 25680.0

Chart (H1)