US stocks close mixed ahead of earnings, Fed decision

By FXStreet FXStreet (Córdoba) – Wall Street indices closed mixed, with the DJIA down 23 points and ending the day at 17,623.05, whilst the Nasdaq added 2 points and the S&P lost 3 points.

Energy shares led the way lower as oil prices fell to fresh 2-month lows, but overall, investors remained cautious ahead of earnings reports and the upcoming Federal Reserve economic policy meeting.

DJIA technical view

“The Dow consolidated its latest gains, and the daily chart shows that the index remains well above its 200 DMA after breaking above it last Thursday, when the ECB’s president, Mario Draghi, gave worldwide stocks a boost. In the same chart, the RSI indicator holds flat in overbought territory, whilst the Momentum indicator has eased the pace of its decline from overbought levels, and stands well above its mid-line”, said Valeria Bednarik, chief analyst at FXStreet. “In the 4 hours chart, the Momentum indicator has already erased its overbought readings whilst the RSI indicator holds around 71, but with the index holding near its highs and above a bullish 20 SMA, the downside seems limited, as long as 17,570, the daily low and the immediate support, attracts buying interest”.

Support levels: 17,570 17,506 17,391. Resistance …read more

Source:: FX Street