News & Analysis

Eightcap CFD technical insights: US30 setting up for a new move higher?

Sep 3, 2018 | CFD News

Traders technical signs are appearing that US30 buyers could be setting up for a new leg higher. The fundamental reasons that may hold the US30 back remain, – trade issues, continue to impact buyer momentum these are between the U.S and China, Europe and Canada. Friday’s trade deal failed to find an agreement between U.S. and Canadian representatives.

The US30 ended Friday higher after a test lower and added 684 points in August despite what felt like a myriad of negative news from trade to the Turkish currency crisis.

US markets observe Labor holiday tonight but we’re seeing interest in the US30 after a 67 point test lower during the Asian session.

Looking at the 4h and daily chats. The real key for this move to play out is hold above 25,925 by buyers.

Good Trading from Eightcap.

 

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