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
2579.11Â Â Â 2697.91
2542.42Â Â Â 2734.6
2483.02Â Â Â 2794
Key Trading Level: Â Â Â 2638.51
DJIA- Dow30 – Trading Levels
Support     Resistance
23445.64 Â Â Â 24567.64
23099.05 Â Â Â 24914.23
22538.05 Â Â Â 25475.23
Key Trading Level:Â Â Â Â 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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