Current trend

The Dow Jones index continues to trade in the green zone. The price has reached the level of 7/8 Murrey (26123.0). However, the trend may change due to the fact that since September 24, the US will impose duties on Chinese goods in the amount of $200 billion. According to the President’s administration, if Beijing takes reciprocal steps that significantly affect US interests, then the policy of increasing trade duties will continue. Washington is considering taxes on a group of goods worth $267 billion. Against the backdrop of geopolitical risks, yields on US government bonds continue to grow.

In China, Vice Premier Liu He held an emergency meeting to develop a response to the US. Many investors are still interested in what will happen to the upcoming negotiations, and how far the parties are willing to go in their decisions.

Today the housing market data are expected and Total Net TIC Flows release in the USA.

Support and resistance

Stochastic is around 45 points and does not give signals for opening positions.

Resistance levels: 26171.9, 26220.7.

Support levels: 26074.2, 26025.4.

Trading tips

Short positions can be opened from the current level with the target at 26074.2 and stop loss 26124.0.

DJIA index of the American stock exchange



Entry Point26112.0
Take Profit26074.2
Stop Loss26124.0
Support levels26220.7, 26171.9, 26074.2, 26025.4
YM: general analysis

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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