SPX & DJIA Levels – FOMC In Focus

Posted Wednesday, February 21, 2018 by
Arslan Butt • 1 min read

The global indices are under substantial selling pressure as the investors are considering the Risk-off sentiment. In the last two weeks, the global stock market investors seem skeptical about buying. We summarized the outlook for US investments in our previous update on SPX and DAX. The overbought indices seem to progress further down in order to complete 38.2% Fibonacci retracement at $2,550.

We have a complex scenario on our hands this week. We are unable to confirm the bullish reversals until we hear from Trump and the Federal Reserve regarding the next spike in the rate. Meanwhile, the global indices seem to consolidate with the help of the support from the resistance levels. If you are following our updates for the first time, check out FX Leaders Support and Resistance Trading Strategy to get a better understanding of the market.