US stock futures point higher

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Feb 15, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    FXStreet (Córdoba) - Wall Street remained closed on Monday in observance of Presidents Day, with the latest registered close in the Dow Jones Industrial Average at 15,973.84. The American session was for the most quiet compared to the first half of the day, but the index managed to advance somewhat in electronic trading, tracking gains from other major indexes.

    DJIA technical view

    “Currently hovering around 16,170, the Dow benefited from a sharp advance in worldwide stocks, and the daily chart shows that the index is ending the day above its 20 SMA for the first time in a week, although the Momentum indicator heads lower below the 100 level, and the RSI indicator heads slightly higher in neutral territory”, said Valeria Bednarik, chief analyst at FXStreet. “In the 4 hours chart, the technical indicators have lost upward potential near overbought territory, but that the index remains above its 20 and 100 SMAs, supporting some further gains in the case that risk sentiment remains positive”.

    Support levels: 16,088 16,001 15,916. Resistance levels: 16,213 16,289 16,359.
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