Sunday, August 12, 2018

Dow Jones - 13 August 2018


Fundamental Highlights

US CPI on Friday came in as expected at 0.2%, with headline inflation continuing to run at a six-year high of 2.9%. U.S. stocks closed solidly lower on Friday joining a global equity market sell-off as the Turkish crisis raised the alarm for possible contagion towards other markets.

Technical Analysis

The Dow dropped 196 points to finish nearly 0.6% lower than the previous week. On Friday, the index broke through both support areas as expected creating new levels. Today the Dow seems to continue its move downwards towards the 25168.0 mark and may break it and proceed towards the 25124.5 figure.

Support: 25168.0 25124.5
Resistance: 25343.5 25388.0

Chart (H1)