Trade War is ON – Key Levels to Watch for DAX, SPX and Gold

The POTUS Trump fired the biggest shot to initiate the trade war by imposing tariffs on $34 billion of Chinese imports. China has pledged...

Trade War Continues

The POTUS Trump fired the biggest shot to initiate the trade war by imposing tariffs on $34 billion of Chinese imports. China has pledged to levy its own tariffs shortly after on a similar quantity of the U.S. imports.

Global stock markets initially responded with a bullish rally as most of the trade war is already factored in. In addition to this, the chief of economic events, the U.S Non-farm payroll, and unemployment rate are due to release during the New York session today. In order to cope with the scenario, we have spotted fresh trading levels for Gold and WTI Crude Oil that are worth trading today. Let’s take a look…

Gold – XAU/USD – Trading Levels

Support Resistance
1253.91 1260.55
1251.85 1262.61
1248.53 1265.93
Key Trading Level: 1257.23

SPX – S&P500 – Key Trading Levels

Support Resistance
2698.15 2739.49
2685.39 2752.25
2664.72 2772.92
Key Trading Level: 2718.82

DAX- German30 – Key Trading Levels

Support Resistance
12151.44 12468.1
12053.62 12565.92
11895.29 12724.25
Key Trading Level: 12309.77

ABOUT THE AUTHOR See More
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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