Current trend

The Dow Jones index continues to strengthen: the price has broken the resistance level of 25781.3 and is moving towards 26171.9 or 7/8 Murrey. The traders are focused on elections to the House of Representatives. If the Democrats win up, it will have a negative impact on Trump’s current policy, and a number of infrastructure projects can be minimized. The second problematic issue is increasing the budget deficit and the national debt ceiling. As political observers suggest, in order not to lose the rating, Trump can focus on foreign policy, which will intensify the trade war between the United States and China and tighten policy toward Iran.

Today, data on oil reserves will be published, and tomorrow special attention should be paid to Continuing Jobless Claims and Fed interest rates decision. Most analysts expect rates to be increased, so a correction in the stock market will be possible.

Support and resistance

Stochastic is at 79 points and does not give signals for opening positions.

Resistance levels: 26171.9, 26326.0.

Support Levels: 25508.1, 25000.0.

Trading tips

Long positions can be opened from the current level with the target at 26171.9 and stop loss 25635.0.

DJIA index of the American stock exchange

BuySellSpread
24100.524093.570

Scenario

TimeframeDay's Range
RecommendationsBUY
Entry Point25886.0
Take Profit26171.9
Stop Loss25635.0
Support levels25000.0, 25508.1, 26171.9, 26326.0
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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