Pre-FOMC Trading Levels – S&P500 and DJIA! - Forex News by FX Leaders

Pre-FOMC Trading Levels – S&P500 and DJIA!

Posted Wednesday, December 13, 2017 by
Arslan Butt • 1 min read

Good Morning, forexters. The global stock markets will be shaky today as the investors around the globe are waiting for the US monetary policy. I was checking out the S&P500 and DJIA charts. Both of these indices are holding in the overbought zone.

The indices are holding at the highest levels, so identify the resistances and price action trading is a bit hard. Let me help you with support and resistance levels to trade FOMC event today.

S&P 500 – SPX500 – Trading Levels

Support              Resistance

S1: 2,628             R1: 2,653

S2: 2,617             R2: 2,672

S3: 2,600             R3: 2,662

Key Trading Level: $2,645

DJIA – US30 – Trading Levels

Support               Resistance   

S1: 24,368            R1: 24,548

S2: 23,313            R2: 24,603

S3: 23,233            R3: 24,693

Key Trading Level: $24,458

I’m waiting with my fingers crossed for the event. Check FX Leaders Support and Resistance trading strategy for a 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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