DOW JONES: Good time for shopping

By | September 9, 2015

The situation on the stock market stabilized somewhat, driven in part by the Chinese authorities. In addition, as it became known today, the World Bank warned the Fed from raising rates in September. All this is favorable impact on the dynamics of American benchmark. However, in anticipation of the Fed meeting 16 – 17 September, few of the planned end of the week, reports will have a significant impact on the dynamics of Dow Jones (YM). We will see the weekly data on the number of applications for unemployment benefits, a report on the producer price index and consumer confidence. Therefore, it is quite possible that, given the absence of external shocks, the US benchmarks will show moderate growth.

In the area of 16,670.0 level of quotes formed a resistance that they can not overcome by the end of August. In the short term break this barrier can be a good starting point for shopping. Provided that mark a breakthrough, “bulls” can be activated with a new force that will send quotations on up with the immediate goal to 17398.0.

dow jones chart
Dow jones chart

Trading analytics

Dow Jones (YM) – buy dow – Entry price: 16670. Goal: 17398. Stop loss: 16058.
Warning: Profitability in the past does not mean profitability in the future. Any projections are for information only and does not guarantee a result.
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