S&P500 and DJIA Trading Levels – US Employment Report In Focus!

This week, FX junkies are anxiously awaiting the labor market figures from the United States. I was checking out the S&P500 & DJIA charts. Both of these indices are now oversold and the labor market reports are the only hope this week. Yup, better than expected report will surely give us a good opportunity to go long on these instruments.

I’m keeping my laces tied to jump in at the right time. For the moment, $2,621 is a very strong buying entry but I will prefer to wait for ADP employment change for clues about NFP later this week. In order to deal with this week’s economic calendar, let’s take a look at the weekly support and resistance levels.

S&P 500 – SPX500- Trading Levels

Support            Resistance

S1: 2,620              R1: 2,653

S2: 2,610             R2: 2,633

S3: 2,594             R3: 2,680

Key Trading Level: $2,637

DJIA – US30 – Trading Levels

Support             Resistance            

S1: 24,252            R1: 24,418

S2: 23,984            R2: 24,520

S3: 23,818            R3: 24,686

Key Trading Level: $24,252

Are you wondering how to benefit from these levels? Do check FX Leaders Support and Resistance trading strategy for the better understanding of these levels. Good luck!

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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