USA30 stocks reach support zone

Source: Dukascopy Bank SA


Since the last review of the USA 30 stock index, the index has declined. In general note the two large red candles, which were caused by fundamental events. Namely, the US Fed Chairman Jerome Powell stated that a recession is likely and the US inflation data revealed that despite monetary efforts inflation is rampant.

By September 20, the index had reached the support of the Late 2020 high and 2021 and 2022 low level zone at 29,665.00/30,560.00. On September 21, the US Fed was set to do a rate hike. Depending on the size of the hike the stocks are expected to either recover or decline further. Namely, a 0.75% or 1.00% hike is expected and would set the direction.

A move below 29,665.00 would result in the index looking for support in 2020 relevant levels like the 29,000.00, 28,000.00 and 27,000.00. On the other hand, a potential recovery might encounter resistance in 32,500.00 and 33,000.00.
Back to articles

Actual Topics

Tue, 20 Sep 2022 10:49:48 GMT

Brent oil almost reaches 2021 high

Since the last review of Brent oil price, the commodity has continued to decline, as it almost reached the 2021 high level at 86.73 in early September. However, the price recovered and during most of the month was fluctuating between 90.00 and 95.00 levels. In general, it appears that the price is waiting for the US Federal Reserve Rate

Mon, 19 Sep 2022 18:43:22 GMT

USA 500 index declines back below 3,900.00

Since the last review of the US 500 stock index, the stocks have failed to find support and declined to 3,900.00. The round price level acted as support and caused a minor recovery to the 4,150.00 level and the 200-day simple moving average. In mid-September the higher than expected US inflation data was enough to create a decline, which

Subscribe to "Fundamental Analysis" feed

Subscribe
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.
To learn more about Dukascopy Bank Binary Options / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Crypto Trading / CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Business Introducer and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.