Sunday, September 9, 2018

DOWJONES - 10 September 2018


Fundamental Highlights

U.S. equity benchmarks closed lower on Friday as President Donald Trump said the U.S. had tariffs ready to go on another $267 billion of Chinese goods. Trump’s comments about tariffs came as investors focused on the developments surrounding international trade after it was reported that the prospect of resolving the U.S. trade battle with China was fading. The U.S. President said in an interview on Friday that in addition to the pending $200bn, he is ready to advance on another $267bn in tariffs on China at short notice. Preceding these threats, China’s Ministry of Finance announced higher rebates to support exporters in the face of these duties.

Technical Analysis

The Dow finished Friday's session off by about 80 points. As the market opens today, the Index may have a bearish move towards the 25926 area and may continue even further in the direction of the 22848 figure dependent on any news that may come from the U.S.

Support: 25926 25848
Resistance: 26021 26088

Chart (H1)