S&P 500 and DJIA – Midweek Trading Levels - Forex News by FX Leaders

S&P 500 and DJIA – Midweek Trading Levels

Posted Wednesday, July 19, 2017 by
Arslan Butt • 1 min read

Over the course of this week, we have seen the US stock markets continue to go higher. This seems to be due to a dovish Yellen last week as well as unchanged Inflation in the United States. The S&P 500 Index rose to a record high level of $2460.61. So, it was a good idea to close our sell position in S&P 500 at $2451  manually in profit at $2451.

As discussed in my previous update, the S&P500 has just broken above the R3 at $2458. It's now holding at $2461. The DJIA also traded between $21500 – $21600.  We are approaching the most volatile days of the week. Tomorrow we have two monetary policy decisions from the ECB and BOJ. So, get ready for the action and take a look at the trading levels. Make sure to check out our support and resistance trading strategy article to learn how to profitably trade below levels.

S&P 500 – SPX500- Trading Levels

Support            Resistance

S1: 2444             R1: 2445

S2: 2425            R2: 2476

S3: 2413            R3: 2464

DJIA – US30 – Trading Levels

Support             Resistance   

S1: 21531           R1: 21685

S2: 21377          R2: 21781

S3: 21127          R3: 21935

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About the author

Arslan Butt // 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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