Shaky markets as Brexit talk resume

The deadline for Brexit is ticking and there is no apparent progress toward a deal. The market is betting on a “no-deal” scenario at the moment. Meanwhile, Monday’s talk failed to reach an agreement. This week, the Brexit talk will continue to influence the market sentiment.

Today’s market mostly silent on the economic ground which means the stock market might trade sideway.

Asian & European Stock market

The Asian stock market mostly lower today. Japan stock market down 80.36 points (-0.30%) to 26,467.08, China stock market down 6.43 points (-0.19%) to 3,410.18 and Australia ASX 200 up 12.70 points (+0.19%) to 6,687.70. The European stock market also lower on Brexit news. DAX Germany down 0.22%, UK FTSE up 0.19%, and Euro Stoxx600 down 0.37%.

Technical Analysis

Dow Jones Industrial Average (INDU)

DJIA printed a new record high but the index closed lower yesterday. The index might continue trading near the record high and looking to add more gain. Today, the DJIA future is lower suggesting a possible correction. At the current time, we will continue to monitor the index reaction and waiting for a pullback before deciding to add more long positions in equity.

McDonald’s Corp (MCD)

MCD share prices looks will start a bearish correction as the share prices continue moving lower. Traders could observe the daily SMA 200 support level for a bullish reaction. After a bullish reaction formed then traders could consider entering long positions.