Positive market as long as no second wave of coronavirus

The reopening of the economy is a welcomed event and the market boosted positively at the current time. Shares which closely tied to the economy such as hotels, cruise lines, and airlines experienced gain. However, if the coronavirus strike for the second time then we might see the situation reverse suddenly.

Asian & European Stock market

The Asian stock market mostly higher today. Japan stock market up 184.50 points (+0.84%) to 22,062.39, China stock market up 63.08 points (+2.21%) to 2,915.43 and Australia ASX 200 up 63.50 points (+1.10%) to 5,819.20. The European stock market also higher today. DAX Germany closed, FTSE UK up 1.13%, Euro STOXX 600 up 0.80%

Technical Analysis

Dow Jones Industrial Average (INDU)

DJIA maintained the position near the daily SMA 100 and might extend its bullish movement toward the SMA 200. At the current time, there is no major bearish reaction. Traders and investors will monitor closely the releases of economic data before determining the next overall market direction.

Visa Inc (V)

V share prices soon will reach the horizontal level shown on the daily chart. When the share prices reach the level, it may get rejected and start a bearish correction. If the bearish correction happens then traders will observe the level around $180.00 – $187.00 to enter long positions.