The market slightly higher on trade talk development

The global market situation broadly positive as the market observing trade talk development. China announced a potential plan to remove auto purchase restriction. The decision brings auto stocks higher today. On Monday, Trump claims that China seeks U.S trade negotiators to restart trade talks. However, the claims questioned by Hu Xijin, Global Times editor-in-chief.

Asian & European Stock market

Asian stock market higher as traders monitor U.S-China trade development. Japan’s stock market up 195.04 (+0.96%) to 20,456.08, China stock market up 38.63 (+1.35%) to 2,902.19, and Australia ASX 200 up 31.10 points (+0.48%) to 6,471.20. European stock market is also higher. DAX Germany up 0.84%, UK FTSE up 0.12%, Euro STOXX600 up 0.69%

Technical Analysis

Dow Jones Industrial Average (INDU)

No strong clue on the next DJIA direction. The index bounced from the daily SMA 200 but still under bearish risk. DJIA futures pointed upward more than 80 points which indicate opening near 26,000 handles. Will DJIA climb above the resistance level and resume its bullish trend? Alternatively, will it start moving lower and close below SMA 200?

OneOK Inc (OKE)

OKE supported by SMA 100 and the trendline. No major breakout below both support levels and OKE might bounce upward. If the share prices move lower then it might target the daily SMA 200. Traders will observe the share prices reaction and enter long positions when there are bullish reactions.