US Stock market Technical Analysis June 23, 2020

The U.S-China trade deal is not over, the market rejoice!

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Asian stock market and European stock market traded significantly higher in today’s trading session. The upward movement resulted from the clarification by Peter Navarro who initially appeared to signal the trade deal is over. The White House trade advisor said that the U.S-China trade deal is not over. This also confirmed by President Trump who tweeted that the current trade deal remains in place.

At the current time, DJIA futures up nearly 200 points.

Asian & European Stock market

The Asian stock market trade higher today. Japan stock market up 111.78 points (+0.50%) to 22,549.05, China stock market up 5.35 points (+0.18%) to 2,970.62 and Australia ASX 200 up 9.90 points (+0.17%) to 5,954.40. The European stock market also significantly higher. DAX Germany up 2.27%, FTSE UK up 0.96%, Euro STOXX 600 up 1.40%

Technical Analysis

Dow Jones Industrial Average (INDU)

DJIA index is consolidating between 26,000 and the daily SMA 200. If the index moves lower then trades will focus on the reaction near the daily SMA 100. No major reaction yet from the current level. The index expected to continue its consolidation between 26,000 and SMA 200.

Cameco Corp (CCJ)

CCJ share prices look moving inside a triangle pattern. It managed to return above the daily SMA 200 and might continue the bullish trend. If the share prices move lower and reach the daily SMA 200 then traders could consider entering long positions.

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