The Dow Jones index is traded in the green zone with the opening of the European session. The US market is supported by the rumors that the US and China plan to sit at the negotiating table to resolve the issue of trade duties. The format of the meeting has not yet been determined, but US Secretary of the Treasury Steven Mnuchin and the Chinese vice-premier are working on this issue. If the parties fail to resolve the disputed points, Chinese imports will fall under additional duties of 16 billion dollars.
An increase in the interest rate is not expected at today's meeting of the Fed, which can be seen as a positive signal for the stock market. Another positive factor is the growth in quotations of Apple: according to yesterday's report, the average selling price of the gadget exceeded the forecast and reached 724 dollars, which increased the company's capitalization by 4.05%.
Support and resistance
Stochastic is at 25 points and does not provide a signal for the opening of positions.
Resistance levels: 25405.0, 25488.3.
Support levels: 25293.0, 25195.3.
Long positions may be opened after the price consolidates above 25405.0 with take profit at 25488.3 and stop loss at 25293.0.
DJIA index of the American stock exchange
|Support levels||25293.0, 25195.3, 25405.0, 25488.3|
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