Sunday, September 16, 2018

DOWJONES - 17 September 2018


Fundamental Highlights

U.S. equity benchmarks were rather calm on Friday, though slight gains were enough to give all three major indices solid overall weekly gains. Markets moved between slightly positive and modestly negative territory throughout the session, following a report that the U.S. President Donald Trump still wants to impose tariffs on $200 billion of Chinese goods, the latest sign that the trade jitters will continue to hang over financial markets. Wall Street Journal cited that the Chinese government may decline any proposed trade talks with the United States if fresh tariffs were to be implemented. The possibility of trade talks came last week with Treasury Secretary, Steven Mnuchin flattening the strained relationship between the two counties although Trump was rejecting any ideas of the talk. The talks were proposed to begin around Sept 20th 2018.

Technical Analysis

The Dow climbed up 8 points during Friday's session. The index may start today's session with a slight slip towards the 26096 support before making its move in the direction of the 26171 figure. In Monday's session the Dow seems to be a strong buy.

Support: 26096 25979
Resistance: 26171 26205

Chart (H1)