S&P 500 and DJIA Trading Levels - Final GDP Under The Spotlight - Forex News by FX Leaders

S&P 500 and DJIA Trading Levels – Final GDP Under The Spotlight

Posted Thursday, December 21, 2017 by
Arslan Butt • 1 min read

Good Morning, investors.  

The global stock markets are trading in narrowly mixed trading ranges. At one moment, we see buying trends in US stocks and then selling trends because of the lack of liquidity in the market. So we aren’t able to catch a good trade. However, today we have final GDP figures coming out from the US and this can have knee-jerk movements in the NYSE (New York Stock Exchange).

In order to cope up with the potential shock, let’s take a look at the support and resistance levels for the S&P500 and DJIA.

S&P 500 – SPX500 – Trading Levels

Support               Resistance

S1: 2,656              R1: 2,680

S2: 2,649              R2: 2,687

S3: 2,637             R3: 2,699

Key Trading Level: $2,668

DJIA – US30 – Trading Levels

Support               Resistance            

S1: 24,406            R1: 24,686

S2: 24,319            R2: 24,773

S3: 24,179            R3: 24,913

Key Trading Level: $24,546

Check the US Final GDP and Philly Fed Manufacturing Index at 13:30 (GMT) today. 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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