August 14th – 20th Weekly Trading Levels – S&P500 and DJIA - Forex News by FX Leaders

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

Posted Tuesday, August 15, 2017 by
Arslan Butt • 1 min read

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.

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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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