S&P500 and DJIA Trading Levels - US Employment Report In Focus! - Forex News by FX Leaders

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

Posted Wednesday, December 6, 2017 by
Arslan Butt • 1 min read

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!

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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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