Trade War is ON – Key Levels to Watch for DAX, SPX and Gold - Forex News by FX Leaders
Trade War Continues

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

Posted Friday, July 6, 2018 by
Arslan Butt • 1 min read

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

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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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