Current trend 

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.

Trading tips

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

BuySellSpread
254452543780

Scenario

TimeframeWeekly
RecommendationsBUY STOP
Entry Point25406.0
Take Profit25488.3
Stop Loss25293.0
Support levels25293.0, 25195.3, 25405.0, 25488.3
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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