Dow Updates

19 Oct - Dow Futures, Watchout Overbought in RSI

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Publish date: Thu, 19 Oct 2017, 06:07 PM
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19/10/2017
 
US Mini Dow Jones Dec 17
 
Yesterday close : 23114 +153
 
 
US stock market rose sharply yesterday, closing above 23,000 for the first time, after tech giant IBM reported better-than-expected quarterly results.
 
Based on hourly chart analysis, be cautious as index now in overbought, may trigger a correction, overall remain uptrend.
 
This week factors to watch for US market:
1. US Jobless claim, 830PM, Thursday, 19 Oct
2. US existing home sales, 10PM, Friday, 20 Oct
 
Price level to watch out today:
Support 23108 23094
Resistance 23125
 
Recommended trading plan today:
1. Sell now with stop at 23126 for a overbought correction
2. Buy at higher high 23126 with stop at 23107
 
Margin Requirement:
USD 3685
 
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