August 7th – 13th Weekly Trading Levels – S&P 500 and DJIA - Forex News by FX Leaders

August 7th – 13th Weekly Trading Levels – S&P 500 and DJIA

Posted Tuesday, August 8, 2017 by
Arslan Butt • 1 min read

We are in a tricky situation. If we were to take a buy now, where would we close it seeing as there isn't any price action on the left side (in the past)?  Don't worry, I have some exciting levels for you to trade. Take a look…

SP500 helped us secure our very first take profit yesterday. At the moment, the US stocks are at the highest levels in history and that's making it very hard to determine the trading levels, especially the resistance levels for S&P500 and DJIA.

As I mentioned in my earlier update, the S&P500 is still not able to break above $2482 (R2), but on the lower side, it has already violated all three of last week's support levels.

S&P 500 – SPX500- Trading Levels

Support            Resistance

S1: 2470.42       R1: 2479.60

S2: 2467.59       R2: 2482.43

S3: 2463            R3: 2487.02

DJIA – US30 – Trading Levels

Support             Resistance   

S1: 21990.50         R1: 22106.05

S2: 21803.55         R2: 22177.44

S3: 21688              R3: 22293

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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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