Sunday, September 23, 2018

DOWJONES - 24 September 2018


Fundamental Highlights

The US markets gave up their gains with the S&P closing flat on Friday despite trading 0.3% higher in early session while NASDAQ lost 1.7% from its high in the opening before closing 0.51% lower. The slump was led by the tech stocks. The latest $200bn round of US. tariffs against China is supposed to take effect today, while China rejected trade talks with the U.S. over the weekend that were scheduled for this week.

Technical Analysis

Although there was a slight downward move for the index during Friday's session, the Dow may regain strength during Monday's session and move in an upward manner towards the 26735 figure where it may break it and continue further in the direction of the 26783 area. The Dow seems to be a strong buy during today's session.

Support: 26650 26446
Resistance: 26735 26783

Chart (H1)