US stocks end mixed

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Jan 19, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    FXStreet (Córdoba) - Following Monday's holiday, US indexes opened with quite a positive tone following its overseas partners, but turned lower and wavered between gains and losses for most of the American afternoon, as oil recovery faltered and fell back below the 30.00 mark.

    The Dow Jones Industrial Average climbed 27.94 points, or 0.17%, to 16,016.02. The S&P 500 closed 1 point higher at 1,881.33. The Nasdaq Composite fell 11.47 points, or 0.26%, to 4,476.95.

    DJIA technical view

    “The DJIA daily chart shows that the daily candle has practically no body, but a long upper wick, reflecting that strong selling interest continues to contain bulls. In the same chart, the price is still far below a sharply bearish 20 SMA, while the technical indicators have turned flat near oversold levels after a limited upward corrective movement, lacking upward momentum at the time being and supporting a new leg south for this Wednesday”, said Valeria Bednarik, chief analyst at FXStreet. “In the 4 hours chart, the 20 SMA caps the upside around 16,090 while the Momentum indicator has stalled its recovery around its mid-line and lacks directional strength, and the RSI indicator aims slightly higher around 43, limiting chances of a steadier advance”.

    Support levels: 15,938 15,836 15,742. Resistance levels: 16,090 16,171 16,277.
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