US stocks end slightly lower

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Nov 19, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    FXStreet (Córdoba) - Wall Street closed pretty much unchanged on Thursday, with the Dow Jones down 4 points and closing the day at 17,732.75, the Nasdaq down 1 point, and the S&P 2 points in the red. The indexes erased their early rallies, as declines in healthcare and energy-related shares muted gains in other sectors.

    DJIA technical view

    “The DJIA daily chart shows that the index held above a flat 20 SMA, but that the Momentum indicator is turning south below its 100 level, and that the RSI indicator has also lost upward strength around 58, limiting the upside for the upcoming sessions”, said Valeria Bednarik, chief analyst at FXStreet. “Shorter term, the 4 hours chart shows that the technical indicators are heading lower from overbought levels, but are still far from suggesting a downward continuation, whilst the 20 SMA has extended further higher below the current level, suggesting a bearish move should be understood as corrective, as long as the index holds above 17,601 a critical support. The daily high stands at 17,807, and an extension above it should lead to a steeper advance towards the psychological 18,000 level”.

    Support levels: 17,709 17,669 17,601. Resistance levels: 17,807 17,852 17,930.
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