August 14th – 20th Weekly Trading Levels – S&P500 and DJIA

Last week's downturn in the global stocks was a difficult blow, but thankfully our key support & resistance levels helped us position ourse


Last week's downturn in the global stocks was a difficult blow, but thankfully our key support & resistance levels helped us position ourselves in the market. Let's have a look at this week's new trading levels.

 

By the end of last week, the uncertainty & war sentiment spread by the United States and North Korea caused selling pressure in the market and both of indices, including S&P500 and DJIA, which broke all three support levels for the previous week.

For now, we can depend on the following trading levels to give us a firmer grasp on US indices.

 

S&P 500 – SPX500- Trading Levels

Support            Resistance

S1: 2453            R1: 2513

S2: 2431            R2: 2490

S3: 2417            R3: 2513

 

DJIA – US30 – Trading Levels

Support             Resistance            

S1: 211915         R1: 22091

S2: 21812          R2: 22177.44

S3: 21726          R3: 22316

This week, I'm not expecting trend continuation, but rather a sideways movement. These levels are going to help us a lot. Keep following, tomorrow I will be sharing weekly trading levels on Gold & WTI Crude Oil.

 
ABOUT THE AUTHOR See More
Arslan Butt
Index & Commodity Analyst
Arslan Butt serves as the Lead Commodities and Indices Analyst, bringing a wealth of expertise to the field. With an MBA in Behavioral Finance and active progress towards a Ph.D., Arslan possesses a deep understanding of market dynamics.His professional journey includes a significant role as a senior analyst at a leading brokerage firm, complementing his extensive experience as a market analyst and day trader. Adept in educating others, Arslan has a commendable track record as an instructor and public speaker.His incisive analyses, particularly within the realms of cryptocurrency and forex markets, are showcased across esteemed financial publications such as ForexCrunch, InsideBitcoins, and EconomyWatch, solidifying his reputation in the financial community.

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