Stock futures are slightly lower as the market monitor Russia-Ukraine, inflation, and rising oil prices

The DJIA futures lower 100 points before the market open after the previous day’s bullish close. Traders and investors monitoring closely the situation between Ukraine and Russia. In the latest news, Ukraine’s President said that 100,000 people are trapped in Mariupol and suffering “Inhumane conditions”.

Oil prices start to creep upward again under the current situation. The upward pressure on oil prices might drive inflation higher. Meanwhile, the Fed has affirmed that they will take tough action on inflation which spelled into a more aggressive rate-hike this year.

Technical Analysis

Dow Jones Industrial Average (INDU)

DJIA index managed to reach the bearish trendline and the daily SMA 200. At the current time, the index will test both resistance levels. Will the index get rejected and restart the bearish trend? Alternatively, will the index breakout above the resistance levels and start a new bullish trend to target a new record high?

Traders will monitor closely the reaction near the current levels and expect a few fake breakout movements before deciding on the next direction.

Advanced Micro Devices Inc (AMD)

AMD share prices are currently in a bearish trend as the share prices continue printing lower low and lower high. However, the share prices managed to bounce from the $100.00 handle and currently stick near the daily SMA 200. If AMD could print a higher swing high then the trend will change from bearish to bullish. On the upside, the bearish trendline is the target.