Tuesday, September 18, 2018

DOWJONES - 19 September 2018


Fundamental Highlights

U.S. indices rallied with US tech stocks leading the rebound as trade tariffs were not as severe as initially feared. China applied duties of up to 10% on $60bn of American imports which was deemed much less than expected as a retaliation to the 10% tariffs from US on $200 billion worth of Chinese imports which will take effect from Sept 24th, 2018 and may be readjusted to 25% at the end of the year. China also readjusted its stance and will instead put a 10% tariff on goods previously designated for a 20% levy.

Technical Analysis

The Dow rallied during Tuesday's session creating new resistance and support levels. During today's session the index may have a bullish move towards the 26317 figure where it may break it and move further in the direction of the 26350 area. The Dow remains a strong buy during Wednesday's session.

Support: 26106 25968
Resistance: 26317 26350

Chart (H1)