US Stock Market Technical Analysis | January 10, 2022

Stock futures mostly sideways after first bearish week

Free $100 Forex No-Deposit Bonus

The stock market kick-off the 2022 years with bearish movement as traders and investors gauging the rising inflation, the Fed hint to raise interest-rate and end the easy policy earlier, and energy crises. Rotation happening out of growth stock into the value stock. The rotation might continue for now until the next inflation data release.

Traders will observe the index movement near major support levels to gauge possible bounce and bullish continuation.

Technical Analysis

Dow Jones Industrial Average (INDU)

DJIA index pressed lower last week and start a bearish correction. If the bearish correction continues this week then we might see the index testing the daily SMA 50 also the trendline. The medium-long term trend is bullish which means a bullish bounce is possible. As long as the index stays above daily SMA 200 then there is no reason to become bearish yet.

Oracle Corp (ORCL)

ORCL share prices trading lower and managed to reach the daily SMA 200. The share prices formed a lower low on the chart but find support at the averages. If the share prices could bounce from the averages then it will target the daily SMA 50 & 100. A consolidation might happen between the averages before the next direction is settled.

A breakout below daily SMA 200 will confirm bearish continuation.

Copyright © 2022. All Rights Reserved. FXDailyReport.Com
Risk Warning: Trading CFDs is a high risk activity and you may lose more than your initial deposit. You should never invest money that you cannot afford to lose. will not accept any liability for loss or damage as a result of reliance on the information contained within this website including data, quotes, charts and buy/sell signals. Please be fully informed regarding the risks and costs associated with trading the financial markets.