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US stocks end lower for third day in a row

FXStreet (Córdoba) - Worldwide stocks closed in the red, with Wall Street plummeting at the opening, but recovering most of their losses before the closing bell. The DJIA closed the day down 78 points at 16,201.32, whilst the Nasdaq and the S&P ended the day down 18 and 6 points respectively.

US stock fell on Thursday on further evidence that global growth is slowing, with car-makers still weighed by the Volkswagen scandal and the industrial sector plunging after Caterpillar cut its revenue forecast, blaming it on a downturn in the mining sector.

DJIA technical view

“The daily chart for the Dow however, continues favoring a bearish continuation, as the index remains well below its 20 SMA whilst the technical indicators maintain sharp bearish slopes below their mid-lines”, said Valeria Bednarik, chief analyst at FXStreet. “In the 4 hours chart, the 20 SMA has extended its decline below the 100 SMA, while the technical indicators have lost their upward strength below their mid-lines, increasing chances of another leg south for the upcoming hours”.

Support levels: 16,103 15,978 15,882. Resistance levels: 16,268 16,380 16,459.

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