At the opening of the European session, Dow Jones index is trading with a slight increase. An important level of resistance is 25195.3 or 6/8 Murrey.
Analysts consider that sales in the market may intensify due to trade wars and an incomprehensible situation with the EU. At a recent conference on American goods, President Donald Trump actively criticized the European Union. If the countries cannot agree, the 20% taxes on European cars will increase, and the total cost may exceed about $300 billion. Head of the European Commission Jean-Claude Juncker plans to hold tomorrow a meeting with the US President in Washington to discuss the problem of taxes and strengthen trade between countries.
As for economic news, US Markit Manufacturing PMI and Housing Price Index will be released today.
Support and resistance
Stochastic is around 97 points and reflects a possibility of a correction.
Resistance levels: 25195.3, 25222.0.
Support levels: 25097.7, 25000.0.
Short positions can be opened from the level 25195.3 or 6/8 Murrey with the target at 25097.7 and stop loss 25222.0.
DJIA index of the American stock exchange
|Support levels||25000.0, 25097.7, 25195.3, 25222.0|
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