The market trade cautiously before trade truce
The phase one trade deal will take place tomorrow and before the event. The U.S will remove China from the currency manipulator list. DJIA futures traded near 0 lines and showing possible ranging days. It is possible after the signing of the deal, DJIA will start moving lower as trade war will continue in the future.
Asian & European Stock market
The Asian stock market continue higher. Japan’s stock market up 174.60 points (+0.73%) to 24,025.17, China stock market down 8.75 point (-0.28%) to 3,106.82, and Australia ASX 200 up 58.50 points (+0.85%) to 6,962.20. The European stock market flat. DAX Germany up 0.06%, UK FTSE down 0.02%, Euro STOXX600 up 0.09%
Dow Jones Industrial Average (INDU)
The bearish engulfing pattern on the DJIA chart not triggered and the index closed inside the bearish pattern range yesterday. No change to the bullish outlook yet, DJIA might continue its upward movement and target 30,000.
Hasbro Inc (HAS)
HAS recovered its position since the fall below SMA 200. The share prices continue to stick near the SMA 200 at the current time and looking for an upside breakout. There is a horizontal level at $105.00 to watch for a reaction. Will HAS close above both SMA 200 and the $105.00 resistance?