DOWJONES
Dow Jones is trading above the $52,600 support level, and prices are likely to move sideways between the $53,900 resistance level and the aforementioned support level.
|
Support |
52600 | 51680 |
| Resistance | 53900 |
54600 |
Dow Jones came under strong selling pressure after ending yesterday’s session down around 1.2%, or 628 points, at 52,786, marking a second consecutive session of losses. Continued gains in oil prices and Brent crude approaching $100 per barrel brought inflation concerns back to the forefront and pushed U.S. Treasury yields higher. Pressure on the index also comes as markets become increasingly sensitive to upcoming U.S. inflation data and the Federal Reserve’s policy decision next week, as persistently high energy prices could strengthen expectations that monetary policy will remain restrictive or that the Fed could raise interest rates again.
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