Daily US Stock market Technical Analysis March 13, 2017

Flat day before major news

Index futures in Asian and European market mostly positive today after beat data from U.S last week. The U.S stock index flat before market open and might indicate cautious approach before interest-rate announcement this week. The major news comes from European region as Scotland call for independence referendum today. Aside from that, the tension between Turkey and Holland increase before PresidentialĀ election on 15 March 2017.

 

There is less economic news to watch today, and most news shaker and mover might come from the political side.

Technical Analysis

Dow Jones Industrial Averages (INDU)

Dow Jones Industrial Averages headed lower after it reached 21,000 handles and currently it hovers near the 20,800 gap. Interestingly, there is no volume when the index drifts lower, but the volume kicks in when the index closed the gap. This week might become a turning point for the index as The Fed decide interest rate.

Alcoa Corporation (AA)

 

AA fell once again near its support level at $33.90. The price might bounce from this level and continue upward, but if it falls lower, it will continue downward and look for support at $32 or daily SMA 200.

Delta Airlines (DAL)

Range establish between $47 – $51.5 on DAL daily chart. The price expected to bounce between the support and resistance level where traders could take advantage placing long and short position from both levels.

Other Watchlist

BBRY – a Bullish break above two candles high, the price might continue higher.

ADM – If the price could move above $45, it might continue higher.

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