Risk off Sentiment Weighs on SPX & DAX – Key Levels To Watch - Forex News by FX Leaders

Risk off Sentiment Weighs on SPX & DAX – Key Levels To Watch

Posted Tuesday, May 29, 2018 by
Arslan Butt • 1 min read

The geopolitical tensions in the eurozone are denting the global stock market indices badly despite the fact that the U.S. and North Korean representatives struggled to put the meeting back on track. But the fact is, the U.S. is ready to reveal tough new sanctions on North Korea which is why investors are getting more uncertain and triggering a massive sell-off in the market.

Could you believe, the VIX (Volatility Index) that measures the fear of the investors has soared +18.53% just today? Fellows, it shows an immense amount of uncertainty in the market and during uncertain times, the investors follow herding behavior, which is mostly a sell-off in the stock markets.

Anyways, we successfully benefited from the news and our forex trading signal on DAX and Gold managed to come out at take profits. Later this week, we got Prelim GDP q/q and the Non-farm payroll data from the U.S. which drives an immense amount of trading volume in the market. We may have a chance to get in the oversold markets now. Well, our forex trading signals will keep you updated. Let’s take a look at key trading levels.

S&P500- SPX- Trading Levels

Support Resistance
2703.64     2734.34
2694.15     2743.83
2678.8      2759.18
Key Trading Level: 2718.99

DAX – GER30 – Trading Levels

Support  Resistance
12827.63    13135.13
12732.64    13230.12
12578.89    13383.87
Key Trading Level: 12981.38

FRA – CAC40- Trading Levels

Support   Resistance
5520.67     5625.85
5488.19     5658.33
5435.6       5710.92
Key Trading Level: 5573.26

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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.
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