Current trend 

Dow Jones index continues to decline: at the moment, the price is approaching an important support level of 4/8 Murray or 24609.4. In case of its breakdown, the next target will be 24511.7.

Markets are pressured by the rhetoric of Donald Trump, who said he was dissatisfied with the current results of negotiations with China. Many experts believe that there are still a number of unresolved issues, so the trade conflict may flare up again. It also became known that at the summit, which is scheduled for June in Singapore, there may not be a meeting with the leader of North Korea. In view of this, debt securities continue to remain at historical highs, putting pressure on stock market quotes. The external background remains negative and the fall is more likely.

Today, special attention should be paid to the publication of the Fed minutes and data on sales of new houses for April.

Support and resistance

Stochastic is at the level of 20 points and indicates the possible correction.

Resistance levels: 24707.0, 24807.2.

Support levels: 24609.4, 24511.7.

Trading tips

Short positions may be opened below the support level of 24609.4 with take-profit at 24511.7 and stop-loss at 24707.0.

DJIA index of the American stock exchange

BuySellSpread
26728.526720.580

Scenario

TimeframeDay's Range
RecommendationsSELL STOP
Entry Point24609.0
Take Profit24511.7
Stop Loss24707.0
Support levels24511.7, 24609.4, 24707.0, 24807.2
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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