Global stock market lower as the tension between U.S-China intensified

The trade war is the topic of the past after coronavirus hit the world. However, the situation between the U.S and China getting worse and it might incite another round of trade war. Coronavirus still present and trade war will only push the economy to the edge.

U.S states are ready for reopening but it might come to halt as WHO data show the U.S has the deadliest 24 hours between Thursday and Friday. We might get another extension of the stay-at-home order.

Asian & European Stock market

The Asian stock market mostly lower today. Japan and China stock market closed for holidays, and Australia ASX 200 up 73.90 points (+1.41%) to 5,319.80. The European stock under pressure. DAX Germany down  2.79%, FTSE UK down 0.19%, Euro STOXX 600 down 2.25%

Technical Analysis

Dow Jones Industrial Average (INDU)

The direction of DJIA is downward today as DJIA futures lower 200 points. We have coronavirus at hand and the economy trying to reopen after a few month’s lockdown. It seems the index might move lower and target 22,500 again. If the situation get worse then we might see DJIA trade below 22,500 by the end of month.

Mastercard (MA)

MA share prices look trading inside a triangle pattern with daily SMA 200 as the top. The share prices is at the end of consolidation and soon will breakout. The direction of the breakout is unknown for now. Traders might want to wait until the close outside of the triangle range before placing any major positions.