FXEMPIRE
All

Technical Update For US Equity Indices: 26.10.2018

Anil Panchal
Technical Update For US Equity Indices: 26.10.2018

Dow Jones Industrial Average [DJI30]

Having dropped below 200-day SMA, the Dow Jones Industrial Average Index is likely finding it hard to extend south-run as seven-month old ascending trend-line, at 24530, together with oversold RSI, challenges the Bears. In case the gauge closes below 24530, the 24300 and the 24000 are likely levels that can appear on the chart. Moreover, increased selling pressure beneath 24000 might not hesitate dragging the quote to 23800 mark. Alternatively, 24900 and 25140-50 resistance-confluence, comprising 200-day SMA & short-term descending TL, could limit the immediate upside of leading American equity index. Should optimists manage to conquer the 25150 on a D1 closing, the 100-day SMA level of 25490 and the 25780-25800 region may question the strength of momentum.

S&P 500 [SP500]

Alike DJI30, the S&P500 is also taking rest on a medium-term support-line, near 2650, with oversold RSI signaling brighter chances of its pullback to 2685 but downward slanting trend-line, at 2750, adjacent to 200-day SMA level of 2770, can keep restricting the index advances. Given the index surpasses 2770, the 2800 and the 100-day SMA level of 2825 might please the Bulls. Meanwhile, a daily closing beneath the 2650 can highlight the importance of 2610 and the 2600 supports before pushing prices to 2555 horizontal-line. Assuming extended downturn past-2555, the index seem vulnerable to plunge towards 2500 round-figure.

Nasdaq [NQ100]

NQ100 is different from aforementioned two equity gauges as it has ticked below eight-month long upward slanting support-line; however, it has to close under the 6770 mark in order to register further weakness in direction to the 6635 & the 6570 supports. If at all the market fears keep pushing investors off the equity and post a daily close below 6570, the 6460 & the 6400 could become pessimists favorites. On the upside, the 6890, the 6980 and the 200-day SMA level of 7075 can act as nearby resistances for the index ahead of fueling it to 7110 resistance-line. In case the index cross 7110 barrier, the 7180, the 7260 & 100-day SMA level of 7350 could appear on the buyers’ radar to target.

Don't miss a thing!
Discover what's moving the markets. Sign up for a daily update delivered to your inbox

Latest Articles

See All

Expand Your Knowledge

See All
IMPORTANT DISCLAIMERS
The content provided on the website includes general news and publications, our personal analysis and opinions, and contents provided by third parties, which are intended for educational and research purposes only. It does not constitute, and should not be read as, any recommendation or advice to take any action whatsoever, including to make any investment or buy any product. When making any financial decision, you should perform your own due diligence checks, apply your own discretion and consult your competent advisors. The content of the website is not personally directed to you, and we does not take into account your financial situation or needs.The information contained in this website is not necessarily provided in real-time nor is it necessarily accurate. Prices provided herein may be provided by market makers and not by exchanges.Any trading or other financial decision you make shall be at your full responsibility, and you must not rely on any information provided through the website. FX Empire does not provide any warranty regarding any of the information contained in the website, and shall bear no responsibility for any trading losses you might incur as a result of using any information contained in the website.The website may include advertisements and other promotional contents, and FX Empire may receive compensation from third parties in connection with the content. FX Empire does not endorse any third party or recommends using any third party's services, and does not assume responsibility for your use of any such third party's website or services.FX Empire and its employees, officers, subsidiaries and associates, are not liable nor shall they be held liable for any loss or damage resulting from your use of the website or reliance on the information provided on this website.
RISK DISCLAIMER
This website includes information about cryptocurrencies, contracts for difference (CFDs) and other financial instruments, and about brokers, exchanges and other entities trading in such instruments. Both cryptocurrencies and CFDs are complex instruments and come with a high risk of losing money. You should carefully consider whether you understand how these instruments work and whether you can afford to take the high risk of losing your money.FX Empire encourages you to perform your own research before making any investment decision, and to avoid investing in any financial instrument which you do not fully understand how it works and what are the risks involved.
FOLLOW US