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US stocks close slightly lower

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Nov 23, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    FXStreet (Córdoba) - US index posted some limited losses this Monday, following an overall heavy tone in commodities that led the way ever since the day started.

    The DJIA lost 31 points and closed the day at 17,792.68, while the Nasdaq shed 2 points and the S&P closed down 0.12% in a lackluster day.

    Investors were side-lined ahead of a Federal Reserve meeting, where policy makers were scheduled to discuss the discount rate. Nevertheless, no news came from that front by the closing bell.

    DJIA technical view

    “Technically, the daily chart for the DJIA shows that the technical indicators have turned south around their mid-lines whilst the 20 SMA remains flat at 17,690, offering an interim support for the upcoming sessions”,said Valeria Bednarik, chief analyst at FXStreet. “Shorter term, and according to the 4 hours chart, the risk of a bearish movement has increased, but is not yet confirmed, given that the index is currently hovering around its 20 SMA, while the Momentum indicator has eased towards its 100 level, where it stands and the RSI indicator has turned flat around 56”.

    Support levels: 17,690 17,642 17,578. Resistance levels: 17,852 17,930 18,010.
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