Key Levels for SPX & DJIA – Is it Good time to Buy Stocks?
Almost all of the global stock market indices are trading bearish, especially the SPX and Nikkei. The bearish pullback came amid anxieties..
Almost all of the global stock market indices are trading bearish, especially the SPX and Nikkei. The bearish pullback came amid anxieties around soaring bond yields and higher inflation. These were bolstered on Friday when the US jobs report prompted concerns the Federal Reserve will boost rates at a faster pace than anticipated this year. For your info, Fed is expected to rise rate three more times in the year 2018.
Thus, the US equities exhibit noticeable slip on worries that the increase in the cost of borrowing will reduce the profit margins. Therefore, the investors were investing in the dollar-hedged securities such as Gold and Silver.
But now the scenario has bit changed. The stock markets are massively oversold and it’s a very good chance for investors to buy cheaper medicines for a longer term. Here are the levels
Let’s check out the trading levels.
S&P500- SPX- Trading Levels
Support Resistance
2603.61 2728.83
2558.28 2808.72
2478.39 2854.05
Key Trading Level: 2,683.5
DJIA- Dow30 – Trading Levels
Support Resistance
23672.91 25269.56
23000.07 26193.37
22076.26 26866.21
Key Trading Level: 24,596.72
- Check out our free forex signals
- Follow the top economic events on FX Leaders economic calendar
- Trade better, discover more Forex Trading Strategies
- Open a FREE Trading Account
Related Articles
Comments
Sidebar rates
Related Posts
Save
Join 350 000+ traders receiving Free Trading Signals
Alerts
Rates
Calendar
Signals