S&P 500 and DJIA - Weekly Support & Resistance Levels - FX Leaders News

S&P 500 and DJIA – Weekly Support & Resistance Levels

Posted Tuesday, June 13, 2017 by
Arslan Butt • 1 min read

Today, the global stock markets are slightly bullish in response to the boost in demand for riskier assets. In our earlier report on the gold, we discussed the major reasons behind the weaker demand for gold.  Investors are now waiting for the FOMC and Fed fund rate, which are due to be released on Wednesday.

Therefore, the stock market, and particularly the US markets, are trading in a narrow range, mostly from one trading level to another. There is a positive correlation between the S&P500 and DJIA, therefore, they generally move in the same direction. Let's take a look at the new week's trading levels.

 

S&P 500 – SPX500- Trading Levels

Support                   Resistance

S1: 2413.11             R1: 2441.13

S2: 2404.46             R2: 2449.78

S3: 2390.45             R3: 2463.79

 

DJIA – US30 – Trading Levels

Support                    Resistance            

S1: 21147.46            R1: 21295.53

S2: 21101.73            R2: 21341.26

S3: 21027.70            R3: 24415.30

 

This is the first update on the US indices, and soon we will launch our forex trading signals on the US & European indices!

 
 
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About the author

Arslan Butt is our Index & Commodity Analyst
Arslan Butt is our Lead Commodities and Indices Analyst. Arslan is a professional market analyst and day trader. He holds an MBA in Behavioral Finance and is working towards his Ph.D. Before joining FX Leaders Arslan served as a senior analyst in a major brokerage firm. Arslan is also an experienced instructor and public speaker.
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