Current trend 

Dow Jones index continues to trade in the green zone as the trade duties tension between the US and China declines.

Yesterday, Xi Jinping said that China will work out new methods to protect intellectual property rights and expand access of foreign investment to the domestic market. This lead to a significant growth of the shares of American companies: the leaders were IT and energy sectors, the latter also grows due to increasing energy prices. Growth also touches large social network Facebook, whose securities went up by almost 4% after the head of the company Mark Zuckerberg began to give evidence about data leakage. Additional volatility in the market may be triggered by the reporting season, which starts this week.

On Friday, financial companies such as Citigroup, Wells Fargo, and JP Morgan will publish their data.

Support and resistance

Stochastic is at 42 points and does not provide signals for the opening of positions.

Resistance levels: 24375.0, 24531.3.

Support levels: 24062.5, 23906.3.

Trading tips

Long positions may be opened from the level of 6/8 Murray or 24062.5 with take-profit at 24375.0 mark and stop-loss at 23906.3.

DJIA index of the American stock exchange

BuySellSpread
255472553980

Scenario

TimeframeDay's Range
RecommendationsBUY LIMIT
Entry Point24062.5
Take Profit24375.0
Stop Loss23906.3
Support levels23906.3, 24062.5, 24375.0, 24531.3
YM: general review

The material published on this page is produced by the Claws&Horns Company and should not be considered as the provision of investment advice for the purposes of Directive 2004/39/EC; furthermore it has not been prepared in accordance with legal requirements designed to promote the independence of investment research and is not subject to any prohibition on dealing ahead of the dissemination of investment research.

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