SPX & DJIA Key Trading Levels – Trade War Sentiment & Energy Sector In Action - Forex News by FX Leaders
U.S. Stocks Markets

SPX & DJIA Key Trading Levels – Trade War Sentiment & Energy Sector In Action

Posted Tuesday, May 22, 2018 by
Arslan Butt • 1 min read

The U.S. stock market indices finally gained some support after the U.S.-China trade war was declared “on hold”. As you know, the stock markets are very sensitive towards any news causing war sentiments. That’s one of the reasons stock markets were trading bearish bias during the previous week.

Secondly, the indices look poised to continue a bullish move, especially if the surge in oil prices remain intact. The energy sector companies are finally getting some benefits from the rising oil prices and these appear to gain the attention of investors. As mentioned in our Weekly Economic Event Outlook, the stock indices can remain highly volatile on the release of FOMC Meeting Minutes and Core Durable Goods Orders this week.

Let’s take a look at the weekly support and resistance levels for SPX and DJIA.

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

Check out our free forex signals
Follow the top economic events on FX Leaders economic calendar
Trade better, discover more Forex Trading Strategies

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.
Related Articles
Comments

Leave a Reply

avatar
  Subscribe  
Notify of