SPX & DJIA Key Key Trading Levels – July 6 In Highlights - Forex News by FX Leaders
Global Stocks Under Pressure

SPX & DJIA Key Key Trading Levels – July 6 In Highlights

Posted Wednesday, July 4, 2018 by
Arslan Butt • 1 min read

On Tuesday, the global stocks jumped initially as investors ignored concerns over a trade war between the United States and its trading allies – China, Mexico, Canada and the European Union. But during the New York session, bears took control as trade war tensions still remain in check.

The US is due to begin inflicting tariffs on Friday on $34bn worth of imports from China. Thing is, Trump is trying to make Chinese products costly for the U.S. consumer so that US citizens start buying locally manufactured goods. Anyway, the uncertainty is putting a bearish pressure on SPX and DAX.

Today, the volume is likely to be light as the U.S. investors enjoy the Independence Day holiday. Keeping the US holiday and July 6 in mind, the major players are on the sidelines and may look for the actual outcome before placing any real big trade. 

Here are the key trading levels to watch for S&P500 and German30 this week:

S&P500- SPX- Trading Levels

Support       Resistance

2698.15       2739.49

2685.39       2752.25

2664.72       2772.92

Key Trading Level:  2718.82

German30 – DAX – Trading Levels

Support     Resistance

12151.44       12468.1

12053.62      12565.92

11895.29      12724.25

Key Trading Level:  12309.77

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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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