US stocks accomplish minor monthly gains

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Nov 30, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    FXStreet (Córdoba) - US indexes closed the day with limited losses and the month slightly higher, as investors await for some clearer clues on upcoming economic policy decisions this December before taking big decisions.

    The Dow Jones Industrial Average 78.57 points, or 0.44%, to 17,719.92, while it added 0.7% over the month. The S&P 500 dropped 9.7 points, or 0.46%, to 2,080.41 but rose 0.4% in November. The Nasdaq Composite lost 18.86 points, or 0.37%, to 5,108.67 but gained 1.3% over the month.

    DJIA technical perspective

    “Some month-end fixing weighed on the index that anyway maintains a mild positive tone in its daily chart, given that it continues to develop well above its moving averages, whilst the Momentum indicator heads north well above its 100 level, and the RSI indicator holds around 54”, said Valeria Bednarik, chief analyst at FXStreet. “Shorter term, the 4 hours chart presents a more bearish tone, as the index has extended below its 20 SMA, while the technical indicators hold ground in negative territory. The main support comes at 17,657, November 24th daily low, and it will take a break below it to confirm additional declines during the upcoming days, towards the 17,420 region, the next strong static support area”.

    Support levels: 17,722 17,657 17,598. Resistance levels: 17,805 17,865 17,930.
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