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SPX & DJIA Key Trading Levels – Trade War Fear Looms

Stock market indices are trading with a bearish tone ahead of the US monetary policy decision today. It’s all about selling the rumors and buying the facts. Investors seem to be speculating about the rate hike decision and therefore are selling stocks at higher prices to buy them back at low prices.

Global stock market indices were knocked hard by the trade war sentiments. SPX and DJIA are extending losses after a Chinese news agency reported that China will publish a list of retaliatory tariffs on the US exports to China.

Fellas, if this game continues we may see a further sell-off in the global stock markets. Investors will prefer to be out of stocks while the trade war sentiment is on.

S&P500- SPX- Trading Levels

Support     Resistance

2579.11      2697.91

2542.42      2734.6

2483.02      2794

Key Trading Level:    2638.51

DJIA- Dow30 – Trading Levels

Support     Resistance

23445.64    24567.64

23099.05    24914.23

22538.05    25475.23

Key Trading Level:    24006.64

Investors are advised to monitor the US GDP figures. The positive data can support sinking equities today. Good luck!

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Arslan Butt
Index & Commodity Analyst
Arslan Butt serves as the Lead Commodities and Indices Analyst, bringing a wealth of expertise to the field. With an MBA in Behavioral Finance and active progress towards a Ph.D., Arslan possesses a deep understanding of market dynamics.His professional journey includes a significant role as a senior analyst at a leading brokerage firm, complementing his extensive experience as a market analyst and day trader. Adept in educating others, Arslan has a commendable track record as an instructor and public speaker.His incisive analyses, particularly within the realms of cryptocurrency and forex markets, are showcased across esteemed financial publications such as ForexCrunch, InsideBitcoins, and EconomyWatch, solidifying his reputation in the financial community.
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